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Centrify Raises $42 Million to Expand Identity Management Business

Centrify, a Santa Clara, California-based provider of Identity Management solutions, today announced that it has raised a massive $42 million round of funding.

Investors in the latest round of funding include Samsung Ventures, Fortinet, and Docomo Capital.

Centrify

With an existing customer base of more than 5,000 customers, and armed with a fresh a fresh round of funding, Centrify is on a mission to disrupt the Identity and Access Management (IAM) market, estimated by IDC to be a $6 billion market by 2017. 

Centrify offers "Unified Identity Services" across data center, cloud and mobile, which enable users to have one single login and one unified identity infrastructure for IT. Using its technology, companies can securely leverage their existing identity infrastructure to centrally manage authentication, access control, privilege management, policy enforcement and compliance across on-premise and cloud resources, Centrify said.

“We are impressed with Centrify’s vision for unified identity, the quality of its technology, and the synergies with our industry leading high-performance network security solutions,” said Neil Sundstrom, vice president, wireless solutions, Fortinet. “As our customers increasingly demand cutting-edge cloud-based security services, Fortinet is eager to collaborate with Centrify, and to provide a more efficient and holistic platform.”

“We believe Centrify’s innovative approach to mobile security and identity management could be an added benefit to Docomo’s millions of customers. As Centrify continues to expand its global footprint, Docomo and its customers can benefit. Docomo seeks to invest in and deliver cutting edge mobile solutions and our investment in Centrify is proof of this focus,” said Neil Sadaranganey, managing director, Docomo Capital.

Founded in 2004 by Tom Kemp, Adam Au and Paul Moore, Centrify is headquartered in Santa Clara, California, with development and regional offices in Seattle, Hong Kong, London, Munich, Brisbane and Sao Paulo.

According to SecurityWeek's records, previous Centrify Funding Rounds Include:

• Series A: June 2004 Raising $7

• Series B: July 2005 Raising $14 million

• Series C: March 2007 Raising $15 million

• Series D: August 2011 Raising $16 million

“Our goal has always been to provide the best identity management solutions for our customers, and 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 data center,” said Tom Kemp, CEO of Centrify. “As key partners like Samsung, Fortinet, and NTT DOCOMO validate our unified approach, the future is increasingly bright for the identity market, and even brighter for Centrify.”