Applied Identity Completes $8 Million Venture Financing Round Led by Bay Partners and Sigma Partners.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Applied Identity (www.appliedidentity.com) today announced it has completed an $8 million first round of institutional venture financing from Bay Partners and Sigma Partners Sigma Partners is a major venture capital firm based in Silicon Valley and Boston. Sigma Partners invests in early-stage information technology companies (semiconductor, software and hardware). The firm was founded in 1984 by J. Burgess Jamieson and C. Bradford Jeffries. . The funds will be used to grow the sales and marketing organizations, develop international distribution, and expand development efforts. Bob Williams This article is about the rugby player. For the college basketball coach, see Bob Williams (basketball coach). For the baseball player, see . Bob Williams was an Australian rugby league player for the Eastern Suburbs club. of Bay, and Pete Solvik of Sigma, have also joined Applied Identity's board of directors. Applied Identity addresses the problems of enterprise network resource access control and identity management. The Applied Identity Identiforce(TM) policy enforcement gateway appliance works with a customer's existing authentication and directory services to cloak all network resources except those explicitly allowed to any user or group. If a resource can't be seen or accessed, it cannot be compromised. Unauthorized access, worm propagation, and malicious data manipulation Processing data. are all prevented by the Applied Identity solution. Existing approaches rely on physical segmentation and enforcement by network addresses. In contrast, the Identiforce platform binds user identity to network resource usage independent of location, platform, or connection type. Instead of a gauntlet of expensive internal firewalls, a single Identiforce appliance can address the security needs of even large organizations in an elegant and extremely cost effective manner. "Applied Identity has developed a breakthrough solution to a huge problem nearly every enterprise faces today--how to get highly granular access control and policy enforcement without adding significant cost and overhead to the corporate network," said Bob Williams of Bay Partners. "Because Applied Identity's implementation is simple to deploy, integrates with Microsoft's Active Directory or any LDAP-compliant solution, and requires no client-side interaction, Applied Identity is the most compatible and cost effective solution available." "As a former CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. of a Fortune 100 company, I believe the market for a robust identity enforcement solution is enormous," said Pete Solvik of Sigma Partners. "Most companies have significant projects underway for identity management, directory migration, risk mitigation, and regulatory compliance. Applied Identity's solution adds tremendous value to each of these business initiatives by providing granular network segmentation Network segmentation in computer networking is the act or profession of splitting a computer network into subnetworks, each being a network segment or network layer. Advantages of such splitting are primarily for boosting performance and improving security. , enforcement of policy at the network level, and levels of auditing and event forensics See computer forensics. not possible with existing solutions." "We're delighted to partner with Bay and Sigma, two of the most effective company builders in the tier one VC community," said Brian Nugent, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Applied Identity. "Bob and Pete both have terrific operational backgrounds. Bob's deep security venture expertise, combined with Pete's 'buy-side' orientation, will help the company enormously moving forward." About Applied Identity Applied Identity develops scalable, identity-based solutions for securing enterprise networks. Applied Identity's Identiforce(TM) gateway appliance creates individual security domains for each user and delivers infinitely fine-grained identity and access enforcement. Applied Identity's products are now deployed in Fortune 100 companies and large government agencies across the US, and the company is expanding into international markets. About Bay Partners Bay Partners is an early-stage venture capital firm active in fundamental technology investing. Bay has funded over 250 companies since 1976. The firm's most important differentiator is its depth and breadth of operational expertise -- spanning technology, sales, marketing, business development, and financial, legal and general management. Bay Partners closed its 10th fund with committed capital of $375 million and manages over $1 billion dollars in total. Bay Partners' portfolio successes include Exodus Communications Exodus Communications was a high-flying internet hosting and service provider to dot-com businesses that went broke along with their customers. Exodus inception Exodus was founded in 1992 as Fouress, Inc., and reincorporated in 1994 to Exodus Communications. , Informatica (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : INFA INFA International Federation of Aestheticians ), Digital Island, Brocade Communications (NASDAQ:BRCD), Web Logic (NASDAQ: BEAS) and Sonic Wall (NASDAQ:SNWL). On the web Bay can be found at www.baypartners.com. About Sigma Partners Sigma Partners, a high technology venture capital firm with over a billion dollars under management, helps entrepreneurs transform ideas into substantial, profitable businesses. Sigma's partners have experience as successful CEOs, entrepreneurs and technologists. Their deep operating and technical insight helps build teams and strategies that produce sustainable value and successful outcomes. Sigma tends towards early stage investments because of the value that they can bring to the process of building teams, strategies and markets. Some of the many successful Sigma Partners investments over their 20 year history include Cascade Communications, Clarify, Electronic Arts, GeoTel, Internet Security Systems, Octel, MIPS (Million Instructions Per Second) The execution speed of a computer. For example, .5 MIPS is 500,000 instructions per second; 100 MIPS is a hundred million instructions per second. , Novellus, Verifone, Vignette and Wellfleet. www.sigmapartners.com. |
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