Centrify Secures $16M Series D
Index Ventures leads Series D Funding; Joins current VCs Mayfield Fund, Accel Partners, INVESCO Private Capital and Sigma Partners in backing company posting record revenue and profitability.
SUNNYVALE, CA, Centrify Corporation, the leading provider of security and compliance solutions that centrally control, secure and audit both on-premise and cloud-based systems and applications, today announced that it has closed its Series D round of financing.
Index Ventures led the investment round of $16 million, 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.
The Series D round follows a record year for Centrify in 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.
With the consumerization of IT and the shift to cloud-based computing, organizations are finding they now have to manage and secure an increasingly heterogeneous infrastructure that spans from the internal data center to the public cloud. At the same time this evolution is occurring, these same enterprises are finding that their infrastructure is also facing an increasing number of security attacks and heightened compliance demands. Centrify's approach of enabling organizations to "do more with less" by embracing and extending an existing infrastructure - Microsoft Active Directory - to secure and manage this hybridized environment is highly appealing, as evidenced by Centrify's rapid growth and large install base.
"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. The Centrify products are clearly differentiated and deliver real value for organizations in addressing their security and compliance needs by embracing and extending Microsoft's Active Directory. We are impressed with all they have done to secure systems on premise, and believe they will become a leader in cloud security as well via their 'enterprise out' approach to managing both on-premise and cloud environments. We are excited by the innovation the Centrify solutions bring to enterprises, and by what's on the horizon for the company."
"Customer acquisition and our growth have been very encouraging for us," said Centrify CEO Tom Kemp. "We were also pleased with the tremendous interest from the investment community in Centrify and their validation of our opportunity going forward. Index and Mike Volpi are the ideal partners for Centrify and we look forward to leveraging their expertise as we expand our market leadership of securing on-premise systems to also securing infrastructure and applications deployed in the cloud."
About Index Ventures
Index Ventures is a leading venture capital firm active in technology, biotech and clean tech venture investing since 1996. The firm is dedicated to helping entrepreneurial teams in the Information Technology and Life Science sectors build their companies into market defining global leaders. They invest from seed through to growth stage companies. The firm has offices in Geneva, London, San Francisco and Jersey. Index's current portfolio includes Criteo, Boku, Lookout, Mimecast, Ozon, Path, Pentaho, Rightscale, Soundcloud, Storsimple and viagogo. Exits of note include Cloud.com (acquired by Citrix), RPX (Nasdaq : RPXC), Lovefilm (acquired by Amazon), Playfish (acquired by Electronic Arts), MySQL (acquired by Sun), Last.fm (CBS) and Skype. For more information, please visit http://www.indexventures.com/.
Centrify delivers integrated software solutions that centrally control, secure and audit access to cross-platform systems and applications by leveraging the infrastructure organizations already own - Microsoft Active Directory. From the data center and into the cloud, more than 3,500 organizations, including 40 percent of the Fortune 50, rely on Centrify's identity consolidation and privilege management solutions to reduce IT expenses, strengthen security and meet compliance requirements.
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