Symplified has announced that demand for its cloud identity products has been so explosive that it needed to raise another $20 million in Series C funding, led by Ignition Partners, just to fuel the fires. With this round, Symplified hits $38.8 million in total funding.
In the press release on its new cash, Symplified includes a few other bragging points, like the fact that it tripled revenues and customer adoption last year and that it has 3 million registered users on its cloud identity and access management (IAM) platform. This $20 million will go toward “[expanding] operations, service and support, research and development, and marketing resources” in an effort to meet demand for its cloud identity solutions.
Unsurprisingly, Ignition Partners will be placing one of its own on Symplified’s Board of Directors in the form of Cameron Myhrvold. Ignition has proven itself one of the savvier venture capital firms when it comes to the cloud — past investments include Heroku (now part of Salesforce.com), StorSimple, Apprenda and more. Previous investors Allegis Capital, Granite Ventures and Quest Software also participated in this round of Symplified funding.
Eric Olden, CEO and Founder of Symplified, explained why his company and Ignition Partners are a match made in cloud heaven:
“We were looking for a partner who understands the enormously disruptive potential of the cloud for delivering infrastructure services like identity and access management. Ignition Partners is a perfect fit and the ideal partner to help Symplified scale up as the leader in cloud identity.”
Needless to say, we’ll continue to watch Symplified and the cloud security market at large closely, so stay tuned.
The 
