Samsung Ventures backs $42m round for Centrify


dollars roll_sqIdentity-as-a-service startup Centrify Corp has secured $42m in a round backed by Samsung Ventures, Fortinet and Docomo Capital.

Last year Centrify reported record sales, which climbed 40 per cent from the previous year. The company said it has a customer retention rate of 97 per cent.

It noted that the identity and access management market is expected to be worth $6bn in 2017.

Fortinet vice president Neil Sundstrom said, “We are impressed with Centrify’s vision for unified identity, the quality of its technology and the synergies with our industry leading high-performance network security solutions.”

other companies backed by Samsung include solid state device storage maker SolidFire, which raised $31m in a Series C backed by the firm last year.

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