UnboundID Secures $2 Million in Series A Funding

Company Appoints New Head of Product Management

AUSTIN, Texas UnboundID Corp., a developer of identity management software for internet-driven consumer-facing architectures, today announced that it has officially closed on a $2 million Series A funding round led by Silverton Partners. UnboundID will use the capital infusion for additional product development and market expansion efforts for a new class of identity management technology, which the company plans to launch in early 2009.

UnboundID understands that the identity management problems we face today cannot be solved by simply adding new features to yesterdays technology, said Morgan Flager, principal with Silverton Partners. By building a new platform for the needs of the next generation of web computing architectures, UnboundID will help organizations to meet current and future identity management demands.

In addition to closing the funding round, UnboundID announced the appointment of Andy Land to its management team. A former Sun Microsystems identity management technology expert, Mr. Land will lead product management for UnboundID. Previously, Mr. Land held product management and sales positions at Alterpoint, Motive, Vignette, Verizon and Abbott Laboratories. Mr. Land began his career as a United States Naval Officer and is a veteran of the first Gulf War.

With the help of Andy and Silverton Partners, well look to accelerate the delivery of our products into the marketplace to meet growing demand for this technology, said Stephen Shoaff, co-founder and CEO of UnboundID. Its an honor to be leading a start-up company that in such a short period of time has developed a new class of identity management technology to meet the unique needs of the Internet application age.

To learn more about UnboundID and its identity management software solutions, visit www.unboundid.com.

About Silverton Partners

Silverton Partners is an early stage venture capital firm based in Austin, Texas. Silverton collaborates with exceptional entrepreneurs who are committed to attacking growth markets with cutting-edge products or services. The principals of Silverton Partners have over two decades of venture experience in IT infrastructure and management software, having been the start-up investors in Tivoli Systems (IPO/acquired by IBM), Motive Communications (IPO/acquired by Alcatel-Lucent), Waveset (acquired by Sun Microsystems) and SailPoint (privately-held).

About UnboundID Corp.

UnboundID is an emerging leader in the field of next-generation identity management software. A privately held company, UnboundID is based in Austin, Texas and is funded by Silverton Partners. For more information, visit www.unboundid.com

UnboundID is a trademark of UnboundID Corp. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies.

Source: UnboundID Corp.