Symplified Secures Series A Financing

WASHINGTON, Jun 12, 2008 (ASCRIBE NEWS via COMTEX) -- RSAS | Quote | Chart | News | PowerRating -- Symplified announced that it has raised $6 million in a Series A round of venture capital financing.

The company is led by the same management team that founded Securant, an identity management software vendor acquired by RSA Security in 2001.

Symplified will introduce its approach to Web Access Management (WAM) at the Burton Group Catalyst Conference June 23-27 in San Diego.

Symplified will use the funds for sales, marketing, and operations. The round was led by Silicon Valley venture capital firms Granite Ventures and Allegis Capital. Chris McKay, principal at Granite Ventures, Spencer Tall, Managing Director for Allegis Capital, and Todd Rowe, Group Vice President & General Manager for Business Objects, an SAP company, have joined Symplified's Board of Directors.

The Internet has become the backbone of business-to-business collaboration and transactions for companies of all sizes, said Eric Olden, founder and CEO of Symplified. However, managing electronic identities and credentials remains costly and complex for even the most technically savvy organizations. Symplified was created to erase the barriers hindering the adoption of cloud computing.

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