Tuesday, August 16, 2011

Centrify Secures $16M for On-Premise and Cloud Security

Centrify, a start-up based in Sunnyvale, California, raised $16 million in Series D funding for its security and compliance solutions designed to centrally control, secure and audit both on-premise and cloud-based systems and applications.

Centrify's software solutions leverage existing Microsoft Active Directory installations to centrally control, secure and audit corporate resources. The company has deployments in more than 3,500 organizations.

Centrify reports record revenue, profitability and accelerated sales growth of approximately 75 percent over the prior fiscal year. Centrify will use the additional funds to expand distribution to meet the growing demand from organizations for its security and compliance solutions, and to accelerate growth in new areas, including cloud environments.

The funding round was led by Index Ventures, with current investors Mayfield Fund, Accel Partners, INVESCO Private Capital and Sigma Partners also participating in the investment. Mike Volpi, Index Ventures partner and former senior executive at Cisco, served as the lead investor on the round.

"Today's IT environment is ever more heterogeneous," said Mr. Volpi. "From a broader range of operating systems and devices being deployed in enterprises to the advent of cloud-based services, we are seeing the proliferation of a diverse range of services that IT needs to support. Centrify provides industry-leading solutions in securing and auditing access to cross-platform systems and applications. We are pleased to join their team to further accelerate their growth." http://www.centrify.comCentrify is headed by Tom Kemp (CEO), who previously was Entrepreneur in Residence at Mayfield, a leading venture capital firm. Kemp was a co-founder of NetIQ and in his last position there served as Senior Vice President, Corporate Strategy and Development.