Centrify has raised a further $US42 million in funding to support its Cloud-based identity management portfolio.
Samsung’s Ventures business, Fortinet, and NTT DoCoMo’s Capital unit are among the investors in this round of funding which was led by existing investors, Accel, Sigma West, and Mayfield.
Centrify said the funding will contribute to what it calls its “holistic and unified approach to identity management and continued disruption of the identity and access management (IAM) market” which research firm IDC estimates to hit $US6 billion by 2017.
“We believe Centrify is doing big things in the industry and we are confident that they will continue to provide the most comprehensive and cutting edge Cloud-based solutions for IAM,” Samsung Electronics KNOX business group IT and mobile communications division senior vice-president, Injong Rhee, said.
Backing the funding is the appointment of two new executives; Mark Weiner and Ally Zwahlen have joined the company as chief marketing officer (CMO) and corporate communications vice-president, respectively.
Weiner will join Centrify’s executive management team and report directly to chief executive officer (CEO), Tom Kemp.
“With this funding and new talent, I’m confident that we will continue to innovate and find ways to disrupt the industry given our unique ability to address identity across Cloud, mobile and the datacentre,” Kemp said.