Swedish security software vendor TFS Technology AB has raised $5.3 million in its first round of funding in order to expand its sales and marketing efforts in the US.
The Uppsala, Sweden-based company provides identity and access management tools for heterogeneous Unix and Linux environments. It acquired the client/server security products of RSA Security Inc in July 2002.
It believes that identity and access solutions is one of the fastest-growing areas within the IT sector. IDC estimates the market for this sector will grow 15% every year, and that sales of products and services will pass the $5.1 billion mark in 2007.
The company has a history in Windows and Unix systems and security management, and in February signed an agreement with Novell Inc’s SuSE Linux to extend its TFS UnixControl identity management software to SuSE Linux Enterprise Server 8.