SailPoint Secures $10 Million in Series B Funding; Funds Will Support Marketing, Sales and Expanded Product Development Initiatives

Jan 22, 2007, 00:00 ET from SailPoint Technologies, Inc.

    AUSTIN, Texas, Jan. 22 /PRNewswire/ -- SailPoint Technologies, a
 provider of software for enterprise security and compliance solutions,
 today announced it has closed $10 million in Series B funding. Investors
 included Lightspeed Venture Partners, Austin Ventures, Origin Partners and
 Silverton Partners -- all of whom also participated in the company's Series
 A round. With this latest funding, SailPoint has raised more than $14
 million in the last 13 months.
     "SailPoint was a compelling investment opportunity for us on many
 fronts," said Ravi Mhatre, general partner at Lightspeed Venture Partners.
 "The company has the right combination of management talent, market
 expertise and proven ability to execute. More importantly, SailPoint is
 addressing a real issue for organizations -- the critical lack of control
 over identity compliance practices."
     SailPoint was co-founded by three Austin entrepreneurs -- Mark McClain,
 Kevin Cunningham and Jackie Gilbert -- who share a common heritage in
 security and enterprise management software. McClain and Cunningham were
 co-founders of Waveset (acquired by Sun Microsystems in 2003) where they
 were instrumental in pioneering many of the concepts that now shape the
 $2.9 billion identity management market.
     The company will debut its first products in early Q1 2007.
     About Lightspeed Venture Partners
     Lightspeed Venture Partners combines extensive venture capital and
 operating experience to assist entrepreneurs in creating industry-leading
 technology companies. Lightspeed manages $1.3 billion of committed capital
 and focuses on seed and early-stage information technology investments in
 the U.S., Israel and Asia. The firm's partners have invested in more than
 100 technology companies over the past two decades and have contributed to
 the success of market leaders including Riverbed Technologies, Virsa
 Systems, Waveset, Blue Nile, eHealthInsurance, Brocade, Ciena, Galileo
 Technology, Informatica, Kiva Software, Metasolv, Phone.com, and Quantum
 Effect Devices. For more information, please visit our Web site at
 http://www.lightspeedvp.com .
     About Austin Ventures
     Austin Ventures has been working with talented entrepreneurs to build
 valuable companies since 1979. With $3 billion under management, AV is the
 most active venture capital firm in Texas, and one of the most established
 in the nation. With a focus on business services, information services,
 computer and communications hardware, and enterprise software, Austin
 Ventures invests at all stages of company development, from $100,000
 "planned experiments" to $50+ million investments in management buyouts.
 Visit http://www.austinventures.com for more information.
     About Origin Partners
     Origin Partners is a venture capital investment company managed by
 investment and business professionals whose careers have been devoted to
 the creation of new value. Origin invests principally in early-stage
 companies with excellent market, technology and management potential.
 Depending on market conditions, the company may also take advantage of
 later-stage opportunities.
     About Silverton Partners
     Bill Wood is the founder of Silverton Partners, an early stage venture
 capital firm based in Austin, Texas. Prior to Silverton Partners, Bill was
 a founding general partner of Austin Ventures. Bill has been a venture
 investor in the enterprise software industry for more than 20 years. In
 addition to SailPoint, Bill's other software investments include Motive,
 Smart Technologies, Tivoli Systems and Waveset, all of which became public
 companies either through acquisition or public offering.
     About SailPoint
     SailPoint Technologies, Inc. is a provider of enterprise software
 solutions that help large organizations more effectively fulfill compliance
 requirements, improve governance controls and manage business risks
 associated with critical information assets. Founded in January 2006,
 SailPoint is based in Austin, Texas. For more information, visit
 http://www.sailpoint.com .
     SailPoint, the SailPoint logo and all techniques are trademarks or
 registered trademarks of SailPoint Technologies, Inc. in the U.S. and/or
 other countries. All other products or services are trademarks of their
 respective companies.
 
 

SOURCE SailPoint Technologies, Inc.
    AUSTIN, Texas, Jan. 22 /PRNewswire/ -- SailPoint Technologies, a
 provider of software for enterprise security and compliance solutions,
 today announced it has closed $10 million in Series B funding. Investors
 included Lightspeed Venture Partners, Austin Ventures, Origin Partners and
 Silverton Partners -- all of whom also participated in the company's Series
 A round. With this latest funding, SailPoint has raised more than $14
 million in the last 13 months.
     "SailPoint was a compelling investment opportunity for us on many
 fronts," said Ravi Mhatre, general partner at Lightspeed Venture Partners.
 "The company has the right combination of management talent, market
 expertise and proven ability to execute. More importantly, SailPoint is
 addressing a real issue for organizations -- the critical lack of control
 over identity compliance practices."
     SailPoint was co-founded by three Austin entrepreneurs -- Mark McClain,
 Kevin Cunningham and Jackie Gilbert -- who share a common heritage in
 security and enterprise management software. McClain and Cunningham were
 co-founders of Waveset (acquired by Sun Microsystems in 2003) where they
 were instrumental in pioneering many of the concepts that now shape the
 $2.9 billion identity management market.
     The company will debut its first products in early Q1 2007.
     About Lightspeed Venture Partners
     Lightspeed Venture Partners combines extensive venture capital and
 operating experience to assist entrepreneurs in creating industry-leading
 technology companies. Lightspeed manages $1.3 billion of committed capital
 and focuses on seed and early-stage information technology investments in
 the U.S., Israel and Asia. The firm's partners have invested in more than
 100 technology companies over the past two decades and have contributed to
 the success of market leaders including Riverbed Technologies, Virsa
 Systems, Waveset, Blue Nile, eHealthInsurance, Brocade, Ciena, Galileo
 Technology, Informatica, Kiva Software, Metasolv, Phone.com, and Quantum
 Effect Devices. For more information, please visit our Web site at
 http://www.lightspeedvp.com .
     About Austin Ventures
     Austin Ventures has been working with talented entrepreneurs to build
 valuable companies since 1979. With $3 billion under management, AV is the
 most active venture capital firm in Texas, and one of the most established
 in the nation. With a focus on business services, information services,
 computer and communications hardware, and enterprise software, Austin
 Ventures invests at all stages of company development, from $100,000
 "planned experiments" to $50+ million investments in management buyouts.
 Visit http://www.austinventures.com for more information.
     About Origin Partners
     Origin Partners is a venture capital investment company managed by
 investment and business professionals whose careers have been devoted to
 the creation of new value. Origin invests principally in early-stage
 companies with excellent market, technology and management potential.
 Depending on market conditions, the company may also take advantage of
 later-stage opportunities.
     About Silverton Partners
     Bill Wood is the founder of Silverton Partners, an early stage venture
 capital firm based in Austin, Texas. Prior to Silverton Partners, Bill was
 a founding general partner of Austin Ventures. Bill has been a venture
 investor in the enterprise software industry for more than 20 years. In
 addition to SailPoint, Bill's other software investments include Motive,
 Smart Technologies, Tivoli Systems and Waveset, all of which became public
 companies either through acquisition or public offering.
     About SailPoint
     SailPoint Technologies, Inc. is a provider of enterprise software
 solutions that help large organizations more effectively fulfill compliance
 requirements, improve governance controls and manage business risks
 associated with critical information assets. Founded in January 2006,
 SailPoint is based in Austin, Texas. For more information, visit
 http://www.sailpoint.com .
     SailPoint, the SailPoint logo and all techniques are trademarks or
 registered trademarks of SailPoint Technologies, Inc. in the U.S. and/or
 other countries. All other products or services are trademarks of their
 respective companies.
 
 SOURCE SailPoint Technologies, Inc.