Tags: analytic capability, canaan partners, compliance systems, craig hanson, data warehouse solutions, electron device,
SenSage Raises $15 Million to Expand Event Data Warehouse Initiatives for the
Enterprise
Funding Led by New Investor FTVentures to Fuel Continued Leadership In Security,
Compliance and Business Operations
SAN FRANCISCO June 10, 2008 Enterprise software leader SenSage, Inc. today announced
that it has completed a $15 million funding round. The financing was led by new investor
FTVentures, joined by a second new investor, Sand Hill Capital, with participation from existing
investment partners Sierra Ventures, Canaan Partners and Mitsui Ventures.
The funds will be used to fuel the company's momentum in the event data warehouse space, while
furthering its existing leadership position in enterprise log management and security information
and event management (SIEM).
SenSage's software solutions target enterprises challenged by evolving requirements for security,
compliance, systems management and fraud detection. Its more than 300 global customers span
top firms in the banking, healthcare, retail and telecommunications industries. The company's
major channel partners include global leaders HP, Cerner, EMC, Hitachi Data Systems, IBM,
McAfee and Tokyo Electron Device.
"Complex compliance and security requirements drive immense operating needs for the global
financial institutions which comprise FTVentures' strategic limited partner base," said Craig
Hanson, vice president of FTVentures and new SenSage board member. "SenSage's event data
warehouse platform enables management of a broad array of data, with sophisticated analytic
capability, flexibility and low administrative requirements, at a massive scale."
Event data warehouse solutions, pioneered by SenSage, introduce the expanded capabilities of
log management into the traditional data warehouse industry while significantly reducing capital
costs and operating expenses. Originally associated with the SIEM domain, log management
involves collecting, retaining and analyzing online and IT events to support compliance, security
and systems management activities.
SenSage gives enterprises the ability to collect all types of event data into its flexible data
warehouse, which is optimized for precise querying and correlation across data sources. The
SenSage event data warehouse enables organizations to perform due process for compliance,
forensics, insider threat response detection, control of privileged user activity, and monitoring of
access to sensitive data use.
"We initially adopted SenSage for its SIEM functionality, particularly the ability to collect data from
a variety of heterogeneous sources while allowing for online storage and analytics," said Preston
Wood, chief information security officer for Zions Bancorporation. "We've since expanded our use
of SenSage's software to serve as an event data warehouse for storing transaction data in support
of our fraud analysis requirements."
SenSage customers are using its event data warehouse to improve a number of business
processes, including analyzing bank transactions for fraud detection or identifying specific call
detail records to support compliance and law enforcement requirements. Typically, these
processes require data warehouses that can manage terabytes of information. The advanced
architecture that SenSage provides is optimized to support the challenges of managing,
maintaining and using these very large databases.
"SenSage was quick to realize that its core technology was well suited to streamlining and
improving the management of other types of events outside of log data, which was its initial
market," said Research Director Philip Howard of industry analyst firm Bloor Research. "By
creating a data warehouse specifically for managing event data, such as call detail records, IP
detail records and ATM bank transactions, SenSage is well positioned to take on the traditional
data warehouse vendors for a share of the growing market for event warehousing."
According to SenSage President and CEO Jim Pflaging, "Customers are responding very positively
to our event data warehouse offering, and we are seeing tremendous opportunity to expand our
customer base. We are pleased that new investors FTVentures and Sand Hill Capital have joined
our team, and the new funding provides us with additional resources for addressing the $13 billion
data warehouse market and increasing our market share around the world."
To learn more about SenSage's event data warehouse, please visit:
http://www.sensage.com/English/Solutions/Event_Data_Warehouse.html
About FTVentures
FTVentures provides growth capital to companies seeking to finance organic expansion,
recapitalizations, build-ups and buyouts. The firm invests in software and business services
companies that derive value from its unmatched Global Partner Network, which includes many of
the world's leading financial institutions. FTVentures' Global Partner Network provides the firm with
a unique vantage point into the business driven IT and operating challenges of the global
enterprise. Founded in 1998, FTVentures currently has over $1 billion under management and
offices in San Francisco and New York. For more information, please visit www.ftventures.com.
About Sand Hill Capital
Sand Hill Capital is a diversified financial services company that provides debt and equity solutions
to venture capital backed start-up companies. The firm has been providing creative, tailored debt
and equity solutions since 1996. The partners at Sand Hill Capital are an experienced team of
venture debt, venture equity and investment banking professionals that have worked with over 50
top tier venture capital firms around the world. For more information, please visit
www.sandhillcapital.com.
About SenSage
SenSage, Inc. offers the only patented event data warehouse solution for log management and
compliance auditing applications. More than 300 customers have deployed SenSage solutions to
reduce the risks associated with insider threats, system downtime and failed audits by providing
faster, more granular analysis of privileged user behavior and analyzing anomalies across network,
system and application activity. Based in San Francisco, the company markets its solutions directly
and through partners, including Cerner, EMC, HP, Hitachi Data Systems, IBM, McAfee, Tokyo
Electron Device and many others. Visit www.SenSage.com for more information.
Media Contacts
Samantha Singh Ed Chopskie, VP of Marketing
The Hoffman Agency for SenSage, Inc. SenSage, Inc.
Phone: 408-975-3087 Tel: +1.415.808.5900