Identity Gets Smart
Mark McClain, CEO & Founder opens up to InformationWeek about identity governance. Watch the video »
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"By using roles to request, approve and certify user access privileges, BNSF will be able to simplify its user administration and compliance processes. SailPoint IdentityIQ will allow us to enforce and verify role-based access across our critical enterprise applications using a streamlined, automated approach." Bart Boudreaux, Director, Technology Services, BNSF Railway
"SailPoint helps us define the connection between user access, financial control and intellectual property protection. Their risk-aware approach focuses on the relative risks associated with user access within our business." Russ Finney, Vice President of U.S. Information Systems operations for Tokyo Electron, U.S. Holdings
"Businesses that are concerned with compliance mandates and ensuring the security and integrity of their IT systems cannot afford 12 to 18 month deployments. With IdentityIQ, organizations can gain immediate payback from automating key governance processes to better address business risk." Kevin Cunningham, Co-Founder and President, SailPoint
"As a publicly-traded company and financial services provider, we are subject to a variety of regulations including FISMA, SOX, PCI, and SAS 70. To meet these requirements, we are standardizing and automating our compliance processes for identity management, so that we can centrally control who gets access to sensitive resources and maintain compliance as the organization changes over time. This centralized and automated approach allows us to proactively address risk and more efficiently maintain a compliant, secure environment." Jerry Archer, Chief Security Officer, Sallie Mae |
SailPoint Secures $6.5 Million from Existing InvestorsThird-round Financing Will Support Expansion in European MarketsAUSTIN, Texas, Aug. 19, 2008 – SailPoint Technologies, Inc. has secured a third-round of venture capital funding to support growth in European markets, where the company currently has a rapidly growing list of customers and was recently named a top innovator in identity management. The $6.5 million Series C financing will enable the company to expand its sales, marketing, partner and field support operations in the U.S. and abroad. SailPoint recently opened an office in London to focus on international expansion and will add additional staff to its European-based operations in the coming months. All of the company's existing investors contributed to this latest financing round. They include Austin Ventures, Lightspeed Venture Partners, Origin Partners and Silverton Partners. This latest round raises to $20.5 million the total amount of venture capital funding the company has received since its inception. SailPoint's identity governance solution reduces the complexity, costs and risks associated with controlling and managing user access to sensitive applications and data – issues that are front and center for organizations worldwide. Recent events in Europe, such as the 4.9 billion euro loss at France's Société Generale, where a trader bypassed internal trading controls, have focused attention even more intensely on strengthening security and compliance processes. "We're excited about the market opportunity for identity governance solutions and the incredible rate at which SailPoint is gaining customer traction with Global 1000 organizations," said John Thornton, general partner at Austin Ventures. "This oversubscribed round of funding highlights SailPoint's market momentum and our confidence in the company's continued growth."
SailPoint has solidly established itself in European markets and was recently named a finalist for Kuppinger Cole's "Best Innovation" category in the European Identity Awards. SailPoint's growing customer base in Europe and North America includes five of the world's top 12 banks and three of the largest insurance companies, in addition to clients in manufacturing and other industries. SailPoint also has a growing international distributor and implementation partner network, including four European partners: KOGIT in Germany, and Enline, IM Global and Pirean in the UK.
"Our presence in Europe is being driven by the need to address security and privacy risk," said Mark McClain, CEO and co-founder of SailPoint. "We see very strong customer requirements in this area across all countries and industry sectors. With this additional funding, SailPoint will be able to address the unique customer requirements of the European market by expanding both our direct sales and channel sales capabilities."
About SailPoint SailPoint Technologies, Inc. develops identity governance software that helps organizations gain control over user access to critical systems and data, streamline costly IT compliance processes and reduce the risks of fraud, corporate data loss or theft and failed audits. Founded in December 2005, SailPoint is based in Austin, Texas. |
