SignaCert Secures up to $4 Million in Financing from affiliates of Fortress Investment Group
AUSTIN, TX and SAN FRANCISCO, CA — January 16, 2014 — SignaCert, the “Power of Being Correct”™ company that is revolutionizing I.T. compliance and change detection, announced today that it has secured an up to $4 million credit facility from funds managed by affiliates of Fortress Investment Group LLC (NYSE: FIG), a leading global investment firm with approximately $66 billion in assets under management. The credit facility is backed by a portion of SignaCert’s intellectual property (IP) portfolio.
“We are pleased that Fortress recognizes the value of our highly differentiated IP,” said Toney Jennings, President and Chief Executive Officer at SignaCert. “SignaCert has a proven record of generating IP that is truly unique and adds value to IT operations and security teams. The Fortress financing underscores the value of our growing IP portfolio. We plan to use the proceeds of this financing to further grow our business and continue investing in research and development.”
Because of the noise and accuracy issues of traditional compliance and file integrity monitoring (FIM) solutions, organizations have been put at greater risk and forced to demonstrate annual compliance via costly and infrequent manual audits. SignaCert Integrity, the only compliance and change detection solution that includes a database of more than four billion signatures of validated applications and files, rapidly identifies unauthorized changes that need immediate action by filtering out all systems that are correctly configured.
About Fortress
Fortress Investment Group LLC is a leading, highly diversified global investment firm with approximately $66 billion in assets under management as of September 30, 2014. Founded in 1998, Fortress manages assets on behalf of approximately 1,600 institutional clients and private investors worldwide across a range of private equity, credit, liquid hedge funds and traditional asset management strategies. Fortress is publicly traded on the New York Stock Exchange (NYSE:FIG).
For more information on Fortress, please visit www.fortress.com.