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Agiliance Accelerates Momentum in the Governance, Risk and Compliance Market : IT GRC leader closes $10M round of funding, appoints information secu

SAN JOSE, Calif. (Business Wire EON) July 1, 2008 -- "We are seeing tremendous momentum on all fronts of the company," said Patrick J. Conte, CEO, Agiliance. "Agiliance maintains its strong position within the IT GRC market because we purpose-built our products to cleanly address the industry's need for a highly automated, out-of-the-box solution that streamlines risk and compliance management."

Agiliance earlier announced it closed a $10 million Series B round with Castile Ventures leading the financing and with investments from existing investors Intel Capital, Walden International and Red Rock Ventures. Agiliance's investors recognize the market opportunity around IT GRC and the growing demand for Agiliance products around the globe.

The company also appointed Sara Gates, an accomplished and respected information security veteran, to its executive team in the role of VP of Marketing. Gates was most recently VP of Identity Management at Sun Microsystems, having come to Sun through the acquisition of Waveset Technologies, where she drove product direction and strategy. With the addition of Gates, Agiliance is well positioned with a complete team of seasoned experts that have the experience and know-how to bring innovative technologies to market and build successful, thriving businesses.

"We're thrilled to have Sara Gates joining the Agiliance management team," added Conte. "Sara brings years of valuable customer engagement experience and market intelligence to Agiliance, and will help provide the vision needed to bring IT GRC solutions from early to mainstream markets."

Agiliance continues to add marquis customers across the Financial Services, Retail, Healthcare, Energy and High Technology industries. These companies are tapping Agiliance's award winning software products to help streamline the complexities of managing a growing number of disparate compliance requirements and risk management challenges while cutting costs and improving productivity.

"Companies in the healthcare industry face a complex range of risk and compliance demands arising from heavy government regulation and a growth in the use of information technology," said Kristen Knight, Director, Privacy Compliance at Philips Healthcare and Advisor, Agiliance User Group. "Agiliance is leading the charge to provide companies in the healthcare field with the proactive and practical tools needed to ensure that security investments and compliance controls directly support their business objectives."

IT GRC is fast becoming a strategic imperative as enterprises seek to manage the risks inherent in their IT infrastructure and to fully leverage their existing security and compliance infrastructure. Industry analysts predict the IT GRC market will see explosive growth in the coming years as companies continue to deal with mounting pressures to manage and balance risk, compliance and IT budgets. These experts note that automation is the key to meeting these requirements in a cost-effective and sustainable manner. Agiliance continues to deliver the automated, out-of-box IT GRC solutions that help Fortune 1000 customers successfully tackle compliance demands while reducing risk and improving business results.

About Agiliance

Agiliance offers the most comprehensive and scalable solution for managing the interdependent disciplines of IT governance, risk, and compliance. Its flagship product, Agiliance IT GRC, enables businesses to develop a holistic view of their IT risk and compliance posture in order to make better business decisions. The Agiliance IT GRC platform is the first solution that combines a robust common control framework with sophisticated policy management, workflow, and automation, providing internal and external stakeholders with a highly effective, transparent methodology for reducing IT-related risk while increasing operational efficiencies and decreasing time-to-compliance. Founded in 2005, Agiliance is headquartered in San Jose, California and is backed by Walden International, Intel Capital, SVIC, Red Rock Ventures and Castile Ventures. For more information, please visit Agiliance at www.agiliance.com

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