Avenda Systems secures $5 Mn in Series B Funding
Date: Thursday , May 01, 2008
Krishna Prabhakar founded Avenda Systems, a provider of identity and policy management systems 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.
Founded in 2006, the company addresses the emerging demand for comprehensive network policy management solutions that are a quantum improvement over the solutions currently available in the market. By leveraging the capabilities of the network infrastructure, Avenda’s products provide the necessary converged policy framework that simultaneously preserves the customers’ existing infrastructure investments and enables the capabilities of new infrastructure investments as these are deployed in the enterprise.
Mark Ashida, Managing Director with OVP Venture Partners and former General Manager of Windows Enterprise Networking at Microsoft will soon join the Avenda board of directors.
“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. These 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,” says Ashida. The California-based company has its development centers in Santa Clara and Bangalore.