Conformity, creators of the first suite of on-demand solutions to enable organizations to centrally govern and manage users of software-as-a-service (SaaS) and cloud applications, today announced it has secured an additional $3 million in Series A financing led by Guggenheim Venture Partners. The new funding is in addition to the $3 million raised in January 2009 and will be used for product line expansion and accelerating sales and marketing activities.
“The growth and market success of the public SaaS application vendors is evidence that SaaS and cloud are here to stay and the market continues to accelerate,” said Tom Smith, CEO of Conformity. “We are committed to supporting key partnerships in the cloud-computing eco-system as we grow our business. This funding will allow us to accelerate our sales, marketing, product, and partnering initiatives as we continue to innovate around this fundamental shift in business computing infrastructure.”
Founded in 2007, Conformity’s SaaS product offerings allow businesses to gain the visibility and control necessary to make on-demand and cloud based applications ‘Business Ready’ in their environments. As organizations adopt multiple SaaS applications they quickly discover that each application requires individual administration and management, which results in significant security risk and exposure from a compliance standpoint. “Conformity provides a way to manage users, coordinate administration and enforce policy that helps organizations implement cloud computing more effectively,” said Sixto Bernal, Director of Internal Audit & IT Risk at SuccessFactors.
“Our ongoing partnership with Conformity reflects our commitment to helping our customers adopt SaaS rapidly and easily.”The highly distributed and virtualized nature of SaaS and cloud computing makes managing users and applications particularly challenging for businesses,” said Eric Rothfus, Managing Director of Guggenheim Venture Partners. “Conformity has a clear market leading solution to this growing and compelling market need and we are excited for the opportunity to partner in their success.”
Conformity has been recognized by Network World as one of the top “10 IT Management technology start-ups to watch” and is a founding member of both the VeriSign Cloud Identity Trust Services partner program and SuccessFactors SuccessCloud partner program.