Arun Oberoi led Aveksa secures $10 Million in series C funding

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Waltham: Aveksa, a provider of enterprise access governance solutions has closed a $10 million series C round of financing. FTV Capital led the round, reaffirming its strong commitment to Aveksa, which has emerged as the industry leader for governing user access to information resources for sustainable compliance and risk management. The round also includes continued participation from FirstMark Capital and Charles River Ventures. Aveksa will use the capital to expand its global operations, sales, marketing and product development efforts.

Liron Gitig, Principal of FTV Capital, said "We believe that Aveksa has both the management team and technology in place to deliver on a substantial market opportunity in access governance and compliance management."

The $10 million Series C round highlights an impressive year of record growth, innovation and industry recognition for Aveksa. Leading Global 2000 organizations have chosen Aveksa's highly scalable solutions to implement policy-driven processes for governing access across thousands of applications, hundreds of thousands of users and hundreds of millions of user entitlements across the enterprise.

In Aveksa's fourth year of operations, the company doubled its customer count, further strengthened and expanded its partner alliances as well as increased sales by nearly 350 percent over the previous fiscal year, stated a press release. "Leading companies worldwide are recognizing the need for an automated and strategic approach to access governance that reduces the time, cost and complexity for managing the business risks associated with providing users with access to information resources," said Arun Oberoi, CEO of Aveksa.

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