Avenda Systems secures $5 Mn in Series B Funding
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Bangalore: Krishna Prabhakar founded Avenda Systems, a provider of identity and policy management systems today announced it has completed a $5 million series B round of funding from OVP Venture Partners. The funding will be used to further product development and to grow the sales and marketing organization. Avenda Systems was founded in 2006 to address the emerging demand for comprehensive network policy management solutions that are a quantum improvement over the solutions currently on the market. By leveraging the capabilities of the network infrastructure, Avenda's products provide the necessary converged policy framework that simultaneously preserves customers' existing infrastructure investments and enables the capabilities of new infrastructure investments as these are deployed in the enterprise. Avenda Systems is led by Krishna Prabhakar, CEO who has over 18 years of experience in the systems and networking industry, including founding two successful start-ups prior to Avenda. Mark Ashida, Managing Director with OVP Venture Partners and former General Manager of Windows Enterprise Networking at Microsoft will join the Avenda board of directors. Ashida has served in executive positions in several companies, launched three companies himself, and currently sits on several boards. At Microsoft, he drove the development of Network Access Protection (NAP) which is shipping in Windows Server 2008. "It became clear to me at Microsoft that the enterprises were demanding more fine grained resource and admissions control which could combine identity management with resource access control. Those demands require a more sophisticated rules engine such as eTIPS to allow more tunable decisions and tight integration with network vendors. Avenda has shown through working closely with Microsoft and Cisco the ability to work with the industry leaders to bring to market an easy-to-use yet sophisticated policy management solution," said Ashida. The California-based company has its development centers in Santa Clara and Bangalore.

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