Conformity Raises $3M Series A

Conformity, Inc., creators of the first platform to enable organizations to centrally govern and manage software-as-a-service (SaaS) and cloud based applications within the enterprise, today announced that it has closed $3 million in Series A financing led by Guggenheim Venture Partners. The new funding will be used to accelerate ongoing product development efforts and to expand sales and marketing activities. In conjunction with the financing, Eric Rothfus, managing director of Guggenheim Venture Partners has joined Conformity’s board of directors.

We featured Conformity in a Q&A Wednesday last year. Founded in 2007, Conformity develops solutions that help midsize and large enterprises address the explosion of on-demand and cloud based applications in their environments. Organizations that have adopted multiple SaaS applications are facing new business challenges due to the fact that each application requires separate, siloed administration and management, resulting in significant security, compliance and asset risks and unnecessary operational costs. The Conformity solution is the first to address these challenges by allowing organizations to centrally govern, manage and control the software-as-a-service and cloud based applications, users and data proliferating across their environments.

Posted by Bryan Menell http://austinstartup.com Bryan is the founder and Editorial Director of AustinStartup.com, which launched in 2005. He is currently the Director of the Collaboratory at venture-funded Dachis Group. Bryan advises a handful of early stage companies and is a Managing Director of Capital Factory. To read more posts click here.