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Greenlight Technologies raises Series A Funding
By siliconindia
Santa Clara: Flemington-based Greenlight Technologies provides cross-system enterprise business controls and transaction monitoring, raised series A funding. Storm Ventures of Menlo Park, California led the funding. The fund will be used for market expansion of Greenlight's enterprise business control monitoring solutions and to scale global operations to support recent customer wins and the growing demand for its software products.
Founded by Anand Adya, Greenlight Technologies enterprise business control software solution provides governance, risk and compliance software enabling integrated or stand-alone analysis of a company's compatible and incompatible enterprise solutions for user access control and transaction activity monitoring across ERP, third-party, legacy or custom application platforms. The firm helps organizations reduce access control complexity and operational overhead associated with remediation of access policy violations. The Greenlight's enterprise business control platform consists of Greenlight RTA Design Studio, a business transparency platform; Greenlight ResO and Greenlight Audit Analytics.
Anand Adya, CEO of Greenlight Technologies, said, "With nearly every facet of an organization's business reliant on technology, the importance of governing the user access and activities associated with business transacted through key applications is what is driving the demand for our company." He has over fifteen years of experience in technology and risk management. Adya was also the founding employee with two successful start-ups. Prior to Greenlight, he was associated with Bell Labs, management consulting and PE/VC. He holds an MBA from Wharton School, Masters in Management from IIM and BS in Mechanical Engineering.
Strom Ventures, a Silicon Valley venture firm, with $500 million corpus focuses on making capital investments in early stage information technology and networking start-up companies that are transforming the way information is being used, shared, delivered and protected. There limited partners include many prominent financial institutions and over a hundred senior executives who have had successful careers in technology companies. Sanjay Subhdar of Strom Ventures will join Greenlight Board of Directors along with Adya, as a part of the deal.
Sanjay Subhedar, founding partner at Storm Ventures, said, "The ability to continuously monitor, detect, remediate and prevent user activity risks across enterprise applications and business transactions is of critical importance to organizations today. Greenlight Technologies has emerged as a clear leader in governance, risk and compliance software industry."
