Agiliance raises $6.5 M

Date:   Friday , December 15, 2006

Security Risk and Compliance provider, Agiliance, has recently raised $6.5 million in a second round of venture funding led by Walden International with participation from Red Rock Ventures. The company further added two new members to its Board of Directors: Mary Coleman of Walden International and Kip Myers of Red Rock Ventures. Cliff Higgerson of Walden International joins as a Board Observer.

Pravin Kothari, Founder and Chief Executive Officer of Agiliance says, “The market is responding well to our risk-oriented security and compliance management solutions. Our new financing validates our progress and allows us to accelerate our product development as well as sales and marketing efforts.”

The Mountain View- based security and compliance vendor enables organizations to analyze and decrease security risk, achieve continuous visibility of risk and compliance, and significantly reduce the cost of compliance with internal and external requirements. The company’s patent-pending technology enables organizations to continuously assess, correlate and quantify risk arising from non-compliant policies based on business impact, as well as other external factors, such as vulnerabilities and threats, and gives continuous visibility into their risk and compliance posture.

According to Kothari, “With Security Risk and Compliance, a key concern of executives of most Fortune 1000 organizations, the challenge is to improve visibility and effectiveness while reining in costs in these areas.”

The company is already addressing the need in the Security Risk and Compliance management market by delivering solution that addresses board-level, line-of-business, and operational concerns.