IAustin, Texas, Oct. 21, 2008 – Driven by the urgency global companies currently have to reduce the risk associated with user access to critical applications and data, SailPoint added several Global 500 customers to its growing roster. The company is on track to more than double its customer base by the end of the year. Already, 5 of the world’s top 10 banks and some of the world’s largest insurance, telecom, manufacturing, and healthcare companies are using SailPoint IdentityIQ for their identity governance initiatives.
“Our continued strong performance is fueled by our ability to provide a solution that is easy to deploy and delivers measurable value within weeks,” said Kevin Cunningham, founder and president of SailPoint. “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.”
Highlights from the last three months also include the release of version 3.0 of its award-winning product, IdentityIQ, new funding to expand SailPoint’s operations and winning a distinguished award:
- In September, SailPoint shipped IdentityIQ 3.0, which uses advanced analytics and adaptive role modeling to combine business roles and policies with technical data mined from across the IT environment and provide meaningful, business-relevant identity information in easy-to-read reports and dashboards, enabling enterprises to identify vulnerabilities associated with user access and strengthen the controls necessary to mitigate those vulnerabilities. IdentityIQ 3.0 also now includes full integration capabilities with Oracle Identity Manager as well as the previously announced integrations with leading automated provisioning systems, including: IBM Tivoli Identity Manager, Novell Identity Manager, and Sun Identity Manager.
- In August, SailPoint closed a $6.5 million third-round of funding with all of the company’s existing investors: Austin Ventures, Lightspeed Venture Partners, Origin Partners and Silverton Partners. The financing is enabling the company to expand its sales, marketing, partner and field support operations in the U.S. and abroad as evidenced by the opening of a new office in London and the finalization of a consulting and implementation partnership with Vistorm, an EDS company based in the UK.
- Also in Q3 2008, Frost & Sullivan named SailPoint the recipient of its 2008 North American Identity Management Technology Innovation of the Year award. The Frost & Sullivan’s Technology Innovation Award honors a company expected to bring significant contributions to the industry in terms of adoption, change, and competitive posture. Earlier this year, SailPoint earned recognition as a “Cool Vendor” in identity and access management by Gartner, Inc. and was named a finalist for “Best Innovation in Identity Management” by Europe’s Kuppinger Cole.