Imprivata Closes $15 Million Series C Financing Round
SAP Ventures Joins Existing Investors Polaris Venture Partners, General Catalyst Partners and Highland Capital Partners in Backing Fast-Growing Identity and Access Management Appliance Leader
LEXINGTON, MA - April 7, 2008 - Imprivata®, Inc., the converged identity and access management appliance company, announced today that it has closed a Series C financing round of $15 million. SAP Ventures, the venture capital arm of SAP AG (NYSE: SAP), the world’s leading provider of business software solutions, joined existing investors Polaris Venture Partners, General Catalyst Partners and Highland Capital Partners in the latest investment round. This investment will help Imprivata expand its reach into new markets and extend its industry leadership position in the authentication management and enterprise single sign-on sector.
“Imprivata’s innovative approach to enterprise single sign-on and authentication management coupled with its unique integration to physical access control systems is helping companies worldwide address compliance and insider security threats, ” said Jennifer Scholze, partner, SAP Ventures. “The company has established dominant footholds in sectors such as healthcare, government and financial services and is poised to emerge as the independent vendor of choice. SAP Ventures is excited to be part of enabling its success.”
“In a few short years, Imprivata’s award-winning products and commitment to customer success have driven triple-digit revenue growth and a leadership position in enterprise single sign-on and authentication management,” said Omar Hussain, president and CEO of Imprivata, Inc. “This investment from SAP Ventures validates both Imprivata’s strategy and the global opportunity for our innovative OneSign platform.”
The OneSign® platform is an authentication and access management solution conveniently packaged in an affordable and secure purpose-built appliance. It offers an effective means to achieve compliance while solving password management problems, reducing IT help desk costs and improving user productivity and security. The solution’s access management capabilities enable organizations to control and record who accesses what, when and from where, helping to comply with industry and/or government regulations. The OneSign platform includes OneSign Authentication Management (AM), which increases network security by replacing network access passwords with strong authentication options; OneSign Single Sign-On (SSO), which quickly and effectively solves password management, security and user access issues; and OneSign Physical/Logical, which integrates building and network access systems to enable location-based authentication.
About SAP Ventures
Since 1996, SAP Ventures has been investing in companies that offer exciting new technologies and applications. Leveraging years of experience and drawing on a network of powerful business relationships, SAP Ventures helps entrepreneurs and management teams recruit the best people, make the right technology decisions, win new business, and build their own partner networks. The goal of SAP Ventures is to grow businesses that create shareholder value for everyone involved. For more information, visit www.sapventures.com.
Imprivata is the converged Identity and Access Management (IAM) appliance company. Its OneSign platform helps organizations safeguard enterprise information assets by enabling secure employee access to networks and applications—improving user productivity and convenience, while reducing the time, risk and cost of complying with data privacy and protection regulations. OneSign has received top ratings in product reviews throughout the industry and has been awarded numerous accolades from leading publications including Information Security, InfoWorld and SC Magazine. Headquartered in Lexington, Mass., Imprivata is one of the fastest growing IAM companies with more than 500 customers and 200 partners around the world.
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