Fast-growing Sailpoint Tech adds more capital funding

Dec 2, 2013
Austin Business Journal

SailPoint Technologies Inc. reported receiving a $4.8 million of a planned $5 million financing

SailPoint, which was founded in 2005, develops identity management software. It employs more than 300 workers and claims customers in 26 countries. The company operates offices in 10 countries, including England, Germany, India, Israel and the Netherlands

The company competes with bigger rivals such as IBM Corp. (NYSE: IBM) and California-based Oracle Corp. (NYSE: ORCL), as well as New York-based CA Inc. (Nasdaq: CA) and Boston-based Aveksa Inc., which also launched in 2005

SailPoint has grown through a series of acquisitions coupled with organic growth. Last year, it disclosed buying Austin-based Cloudmasons Inc. for an undisclosed amount. In 2010, SailPoint acquired consultant firm Beacon Professional Services Inc., an 11-person, Austin-based company founded in 2007

It reached the $100 million cumulative revenue mark this year during the second quarter

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