Tech Dealmaker Awards

Hussain

Founded in 2000, Lexington-based Imprivata Inc. provided authentication management and enterprise single-sign-on capabilities to mid-market companies. It sought to broaden its market reach and move up-market. More capital, and a partnership with SAP AG, would answer both goals.

Capital came quickly from Polaris Venture Partners, General Catalyst Partners and Highland Capital Partners LLC, “all being blue chip firms in greater Boston,” says Geoff Hogan, Imprivata’s senior vice president of business development and product management/marketing. “They made the introduction to SAP Ventures a number of years ago,” and so began a lengthy but ongoing dialogue.

SAP Ventures is the investment arm of SAP AG, specializing in expansion-stage investments. It does not act as a lead investor, but a new investor in companies that offer solutions complementary to SAP enterprise solutions.

“(Imprivata) is poised to emerge as the independent vendor of choice,” in the authentication space, said a partner at SAP Ventures. In just a few short years, Imprivata had enjoyed triple-digit revenue growth, and the funding and vote of confidence from SAP has allowed it to land such impressive customers as The Seattle Times, Eagle Bank and Hilton Grand Vacations.

— Dann Anthony Maurno

Category

Financial Investment

The Deal

Imprivata Inc. closed a Series C financing round of $15 million from SAP Ventures, which joined existing investors Polaris Venture Partners, General Catalyst Partners and Highland Capital Partners LLC, announced April 7, 2008

Key Executives

Imprivata president Omar Hussain

Deal advisers

In-house legal counsel and existing investors

• Platinum Sponsor:
• Gold Sponsors: Capital Source
  Silicon Valley Bank
  TM Capital
  Vitale, Caturano & Co.
• Silver Sponsors: Capital IQ
  Citizens Bank
• Supporting Sponsors: Mass High Tech
  Preston Productions
  Trinity Communications

Become a Sponsor »