Conformity Secures $3 Million in Series A Funding

Company a Pioneer in the Rapidly Emerging SaaS Management Market; Guggenheim Venture Partners Leads Round

Austin, TX – January 28, 2009 – Conformity, Inc., creators of the first platform to enable organizations to centrally govern and manage software-as-a-service (SaaS) and cloud based applications within the enterprise, today announced that it has closed $3 million in Series A financing led by Guggenheim Venture Partners. The new funding will be used to accelerate ongoing product development efforts and to expand sales and marketing activities. In conjunction with the financing, Eric Rothfus, managing director of Guggenheim Venture Partners has joined Conformity’s board of directors.

Founded in 2007, Conformity develops solutions that help midsize and large enterprises address the explosion of on-demand and cloud based applications in their environments. Organizations that have adopted multiple SaaS applications are facing new business challenges due to the fact that each application requires separate, siloed administration and management, resulting in significant security, compliance and asset risks and unnecessary operational costs. The Conformity solution is the first to address these challenges by allowing organizations to centrally govern, manage and control the software-as-a-service and cloud based applications, users and data proliferating across their environments.

Conformity’s SaaS management platform comes at a time when organizations are placing increasing focus on implementing effective financial and IT controls. “Current systems management tools and approaches were developed for the on-premise world, and are unable to address the unique challenges of SaaS and cloud computing environments,” said Eric Rothfus. “With its impressive vision, experienced team and early momentum we believe that Conformity has an incredible opportunity to become a market leader in the newly emerging SaaS management space.”

“After conducting extensive research of the on-demand market and adoption trends, we realized that a significant need is emerging in the market for a robust SaaS management solution that will enable customers to realize their vision of truly on-demand environments,” said Scott Bils, co-founder and CEO of Conformity. “With their early stage focus and deep experience in the systems management space we’re excited to be working with the Guggenheim team to help us build our business.”

“SaaS adoption, particularly in the enterprise, is accelerating faster than is widely being reported,” according to Jeffrey M. Kaplan, managing director of THINKstrategies and the founder of the SaaS Showplace. “As a result, the demand for a solution to help organizations manage multiple SaaS applications is also developing much quicker than originally expected. Conformity’s SaaS management platform is a timely solution to respond to this rapidly growing need.”

About Conformity

Conformity, Inc. provides on-demand solutions that enable organizations to govern, manage and control the software-as-a-service (SaaS) applications and users proliferating across their environments. Founded in July 2007, Conformity is based in Austin, Texas. For more information about Conformity, please visit www.conformity-inc.com or email info@conformity-inc.com.