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Agiliance Closes $6.5 Million in Series B Funding |
Agiliance, a leading provider of Security Risk and Compliance Management solutions, has closed $6.5 million in Series B funding. Global venture capital firm Walden International in San Francisco led the investment with participation from Red Rock Ventures.
In connection with the financing, Agiliance 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 join as Board Observers.
“Security Risk and Compliance remain at the top of executive agendas at most Fortune 1000 organizations, and they are challenged to improve visibility and effectiveness while reining in costs in these areas,” said Pravin Kothari, Founder and Chief Executive Officer, Agiliance. “The market is responding well to our top-down, risk-oriented Security and Compliance Management solution. Our new financing validates our progress and allows us to accelerate our product development as well as sales and marketing efforts. I am also very excited about the valuable perspectives that our new board members bring to the company,” Pravin said.
“Agiliance is filling a huge need in the Security Risk and Compliance Management market by delivering a solution that addresses board-level, line-of-business, and operational concerns; we are pleased to lead its next stage of expansion,” said Mary Coleman, Managing Director, Walden International. “The company has great potential and we’re confident about its long-term success,” Mary said.
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