Jasvir Gill cofounded AlertEnterprise Raises $8 Million
Date: Monday , March 02, 2009
AlertEnterprise, a software provider that coordinates physical and IT security to prevent overlaps, has raised $8 million in the first round funding, from Opus Capital. The startup, founded by Chief Executive Officer Jasvir Gill, a cofounder and former CEO of SAP acquired Virsa will use the money to market its first products - Alert Access and Alert Action, which monitor access privileges and geospatial activities.
“The need for tighter security is especially pressing in industries that are sensitive to physical intrusion, such as utilities, transportation, and chemical,” says Gill. While Gill was at Virtusa, he recognized the need and the market potential for this type of a product. But “there was so much happening on the application compliance side, we couldn’t get our arms around it,” Gill now says. The California based AlertEnterprise addresses risk assessment and security across all logical systems, IT applications, databases, and physical systems from a single analytic dashboard, complete with auto-remediation capabilities. The AlertEnterprise solution automates simultaneous provisioning of access privileges across the enterprise, with multivariate workflow, risk analytics, ERP integration, and real-time mitigation.
The serial entrepreneur who currently leads 40 at AlertEnterprise confidently says, “The 18 years old AlertEnterprise should not need further rounds of capital to build a profitable business.” While he was running Virsa, the company had raised only a single round of $15 million in 2004 from investors such as Kleiner Perkins Caufield & Byers and Lightspeed Venture Partners, where Ken Elefant, the Opus General partner in charge of the AlertEnterprise deal, was a senior associate. In addition to Elefant, two of the firm’s partners, Carl Showalter and Gill Cogan, were partners at Lightspeed, though neither was on the board at Virsa. Elefant has joined AlertEnterprise’s board as a result of the transaction.