Rohati Systems Inc., a Sunnyvale, Calif.-based provider of network-based entitlement control solutions, has raised $12 million in Series B funding. Return backers include Matrix Partners and Foundation Capital. www.rohati.com
Rohati Systems, the leader in high-performance Network-Based Entitlement Control (NBEC) solutions, today announced it has secured $12 million in a second round of funding from Foundation Capital and Matrix Partners.Matrix Partners and Foundation Capital participated in Rohati's Series A funding round, this investment marks a significant increase in their commitment to the company. This round brings Rohati's total amount raised to $22.6 million, and will be used to expand marketing, sales and support, and deliver additional unique capabilities to the Rohati Transaction Networking System (TNS(TM)) platform. Rohati's clear endorsement from the venture community is based on strong early customer and market validation.
“We are very pleased with the progress Rohati has made since our initial investment in 2005. The significant increase in valuation in this round is a testament to the rapid progress that the team has made,” said Shirish Sathaye, general partner at Matrix Partners. “Rohati is helping redefine the security market. This round, combined with the increased pace of activity with partners and customers will solidify Rohati's leadership position in high-performance Network-Based Entitlement Control.”
“Rohati continues to be an excellent investment opportunity for numerous reasons. The company has the right combination of management talent, market expertise and proven ability to execute,” said Adam Grosser, general partner at Foundation Capital. “More importantly, Rohati is addressing a real issue for organizations – the ability to cost-effectively administer and enforce entitlement policies across all applications and users as companies open up their networks, data, and applications to customers, employees, and partners.”
“Enterprises are dealing with a rapidly changing and much more collaborative business environment and CIO's are under a lot of strain to adapt the IT infrastructure to meet these new demands,” stated Shane Buckley, CEO of Rohati. “With initial investment from Foundation Capital and Matrix Partners, we have achieved major milestones in filling these gaps while significantly increasing our valuation. This new round of investment clearly demonstrates that they continue to be excited about the opportunity.”
The company will debut its first products in July 2008.
About Matrix Partners
Matrix Partners is a venture capital firm focused on early stage investments in the communications, consumer Internet, mobile, semiconductor, and software sectors. The firm emphasizes long-term relationships with world- class entrepreneurs. Founded in 1977, Matrix Partners ranks among the industry's top-performing venture capital firms. Prior portfolio companies include Apple, JBoss, OpenWave, SanDisk, Sycamore Networks, and Veritas. The firm manages over $2.5 billion in assets from its offices in
About Foundation Capital
Founded in 1995, Foundation Capital is a venture capital firm committed to supporting entrepreneurs and their companies, targeting innovative opportunities in cleantech, consumer Internet and infrastructure; telecommunications and networking; and enterprise software and on demand services. Foundation Capital funds total more than $1.7 billion. For more information, visit www.foundationcapital.com.
Rohati Systems, Inc., is the leader in high-performance Network-Based Entitlement Control (NBEC). Rohati solutions quickly and cost-effectively enable companies to define and enforce access and entitlement policies across all applications and classes of users from a single management console. Unlike traditional approaches to identity and access management that are time- and cost-prohibitive to deploy broadly, the Rohati solution resides in the data center, is network-based to ensure high performance, and does not require agents or changes to applications. Delivering numerous industry firsts, Rohati enables companies to safeguard all their data assets to protect their business and comply with compliance regulations. Rohati is backed by Matrix Partners and Foundation Capital, and is headquartered in