SOURCE: Greenlight Technologies, Inc.

Greenlight Technologies, Inc.

August 08, 2011 08:00 ET

Greenlight Technologies Closes Series A Expansion Funding

Series A Round Led by Storm Ventures; Funding to Boost Marketing, Business Development for Company's Enterprise Business Control Monitoring Solutions

FLEMINGTON, NJ--(Marketwire - Aug 8, 2011) - Greenlight Technologies, the market-leader in cross-system enterprise business controls and transaction monitoring, announced today that it has raised Series A funding led by Storm Ventures of Menlo Park, CA. The capital will be used to fuel market expansion of Greenlight's enterprise business control monitoring solutions as well as to scale global operations to support recent customer wins and the growing demand for its software products.

The Series A round was led by Storm Ventures, a leading Silicon Valley venture firm that focuses on making capital investments in early stage information technology and networking start-up companies that are transforming the way information is being used, shared, delivered and protected. As part of the Series A funding, Sanjay Subhedar of Storm Ventures, will join the Greenlight board of directors along with Anand Adya, CEO of Greenlight Technologies.

"With nearly every facet of an organization's business reliant on technology, the importance of governing the user access and activities associated with business transacted through key applications is what is driving the demand for Greenlight's enterprise business control solutions," said Anand Adya, CEO of Greenlight Technologies. "Storm Ventures and Sanjay Subhedar have an outstanding track record for investing in market leading companies and bring a wealth of real-world operating experience which will be instrumental in scaling Greenlight Technologies to take advantage of our sizable market opportunity."

"The ability to continuously monitor, detect, remediate and prevent user activity risks across enterprise applications and business transactions is of critical importance to organizations today," said Sanjay Subhedar, founding partner at Storm Ventures. "Greenlight Technologies has emerged as a clear leader in governance, risk and compliance software industry. The company has gained significant traction in the market due to its domain expertise as well as a deep understanding on how continuous monitoring of key business controls will provide organizations with the business assurance they are striving for. We look forward to partnering with Greenlight's management team to leverage our experience for growing highly successful technology companies."

Greenlight's enterprise business control platform consists of:

Greenlight RTA Design Studio®, the business transparency platform that provides real-time visibility to user access as well as a continuous and consistent approach for applying access control that integrates across all enterprise applications.

Greenlight LaserFocus®, which detects and analyzes access risks across all enterprise business applications and provides automation for risk remediation as well as mitigation control monitoring for risks that can't be resolved.

Greenlight ResQ®, which provides a timely and compliant process for granting emergency super-user access to ERP applications as well as the monitoring of user activities to enable a complete audit trail of all user actions within the system.

Greenlight Audit Analytics®, which provides the most comprehensive and real-time approach for continuous monitoring of key business transaction controls to detect and prevent human error, suspicious activities and fraud across enterprise business applications.

About Greenlight Technologies
Greenlight Technologies provides the industry's most comprehensive, real-time enterprise business control software solution that enables effective governance, risk and compliance management for user access control and transaction activity monitoring across ERP, third-party, legacy or custom application platforms. Greenlight Technologies helps organizations reduce access control complexity and operational overhead associated with remediation of access policy violations. Leading Global 2000 organizations rely on Greenlight Technologies to efficiently enable sustainable access compliance and effectively manage access risk across enterprise applications and business processes. For more information, visit www.greenlightcorp.net.

About Storm Ventures
Storm Ventures was founded by a seasoned group of industry veterans with the common vision of sharing our collective experience, passion and energy to help talented and driven entrepreneurs build great companies of enduring value. With over $500 million under management, Storm Ventures focuses on seed and early stage information technology companies which best leverages our operational experience and global network. Our limited partners include many prominent financial institutions, as well as over a hundred senior executives who have had successful careers in technology companies. For more information, please visit www.stormventures.com.

Contact Information

  • Brian Cleary
    VP Marketing
    Greenlight Technologies, Inc
    Email Contact
    339-222-0323