UnBoundID Lands $2M from Silverton

03. Dec, 2008 Comments

UnBoundID

If the definition of “news” is based on the root of the word (”new”) then this one definitely fits the bill. UnBoundID must have filed some documents with the Texas State Securities Board and/or the SEC stating that they’ve raised $2M of a planned $3M round of financing from Silverton Partners. So what’s new about that? Let me count the ways. First of all, who are these guys? If their goal is to be stealthy, then they’re doing a great job. The company is reportedly creating some products in the identity space, which is certainly hot. Hot or not, the environment for Series A fundraising is challenging at best. Not to mention that Silverton has a reputation for being very selective about their investments.

Add all this up, and it will be exciting to see what this company is doing.