Back in February at the Mobile World Congress event, we rolled out our platform development and marketing strategy around the Identity Economy. This week, we're putting our money where our mouth is, so to speak, and we've announced that we've received $12.5M in Series B funding from OpenView Venture Partners. There's a lot of excitement around this funding, because it will allow us to grow our already stellar team in order to work toward our company goals.
We recognize that identity data is the driving force behind big data, and our identity services platform is designed to help companies manage the exploding quantities of data they are gathering. In addition, it's clear that consumers (and the government, and savvy enterprises) are concerned about what's being done with identity data, so one of our key tenets is to help secure that data, and to enable companies to be open with their customers about what they're collecting, and how they're using that information. It's our belief that a trustworthy enterprise gains customer loyalty through this kind of clarity, and customers reward those companies in return, with additional revenue.
This additional funding gives us the resources we need to continue developing products and services that meet the needs of this fast-growing identity marketplace. Keep an eye on UnboundID as we ramp up our business with new hires, new products, and new customers. It's going to take a lot of work, but it's the kind of work we love, and that makes things seem a whole lot more fun.