Press Release - 2008
AGILIANCE SECURES $10 MILLION IN SERIES B FUNDING
Castile Ventures leads new round; Nina Saberi, Castile Managing General Partner, joins Agiliance Board of Directors
San Jose, California- July 1, 2008 - Agiliance, the leading provider of IT governance, risk, and compliance (IT GRC) solutions, today announced it has closed a $10M Series B round of funding led by Castile Ventures. Existing investors also participated in the funding round, including Walden International, Intel Capital and Red Rock Ventures. Agiliance also announced that Nina Saberi, Managing General Partner of Castile Ventures, joined its Board of Directors.
"IT GRC is fast becoming a strategic imperative as enterprises seek to manage the risks inherent in their IT infrastructure and to fully leverage their existing security and compliance infrastructure," said Nina Saberi, managing general partner of Castile Ventures. "As investors in successive generations of information security businesses, we recognize in Agiliance the vision, management experience and differentiated technology to be a pivotal player, and to fully capitalize on the potential of this rapidly growing market."
"Agiliance has strong momentum in the IT-GRC market,” said Patrick Conte, Agiliance CEO. “This funding will allow us to expand marketing and sales while also keeping a strong focus on product development.”
Agiliance continues to extend its leadership position in the IT GRC space, one of the fastest growing information security markets. Gartner predicts this industry will continue to grow aggressively with a 70% increase in market size in 2008 alone. Agiliance is driving the industry in delivering innovative IT GRC products that align security investments and compliance controls directly with business objectives.About Agiliance
Agiliance offers the most comprehensive and scalable solution for managing the interdependent disciplines of IT governance, risk, and compliance. Its flagship product, Agiliance IT GRC, enables businesses to develop a holistic view of their IT risk and compliance posture in order to make better business decisions. The Agiliance IT GRC platform is the first solution that combines a robust common control framework with sophisticated policy management, workflow, and automation, providing internal and external stakeholders with a highly effective, transparent methodology for reducing IT-related risk while increasing operational efficiencies and decreasing time-to-compliance. Founded in 2005, Agiliance is headquartered in San Jose, California and is backed by Walden International, Intel Capital, SVIC, Red Rock Ventures and Castile Ventures. For more information, please visit Agiliance at www.agiliance.com.
About Castile Ventures
Castile Ventures is a top-performing early-stage venture capital firm that provides financial backing and strategic guidance to help exceptional entrepreneurs build successful businesses. Distinguished by the deep business and technology experience of its partners, Castile brings a unique blend of sector expertise, investment know-how, operational insights, and connections to IT decision makers. Since our founding in 1998, the companies we have invested in have brought to market a broad range of products and services to serve the technology needs for enterprises, service providers and the mass market. These have ranged from disruptive enabling technologies through next-generation service infrastructure and delivery platforms to leading edge security solutions and innovation-enabled Internet services. More information is available at www.castileventures.com
Media Contact for Agiliance