TRACESECURITY CLOSES $8 MILLION IN SERIES C FUNDING TO CAPITALIZE ON AGGRESSIVE GROWTH IN THE CORPORATE COMPLIANCE MARKET SPACE

Funding Round Reinforces Vision of TraceSecurity as the Leading Provider of SaaS-Based Security Compliance Platform

BATON ROUGE, La. - (Aug. 27, 2007) – TraceSecurity, a leading provider of software-as-a-service (SaaS) security compliance management solutions, today announced completion of an $8 million dollar round of Series C financing.  Maple Leaf Partners leads the round with participation of previous investors. 
TraceSecurity’s new round of funding will be used to increase momentum for the industry’s first security compliance and risk management solution that helps clients address all of the critical components of a successful security compliance program: people, process and technology.  The company will use the funding to expand sales, product development, and marketing efforts.
“TraceSecurity’s platform of security compliance offerings are in wide demand by corporations,” said Peter Stewart, CEO and president of TraceSecurity.  “The $8 million of funding increases our reach and will enable us to help thousands of organizations facing the complex needs of data security, security best practices, and regulatory compliance.”

The Series C funding comes on the heels of one of the most successful quarters in TraceSecurity’s history.  Strong demand for the company’s security compliance services and SaaS security compliance platform continue to drive TraceSecurity’s triple digit growth.  
"TraceSecurity's clear leadership in the security compliance arena, strong management team, roadmap for future innovation, and triple digit sales growth year over year were primary factors in the securing of the company’s largest round of funding since its inception,” said Dennis Cline, Board member of TraceSecurity and Managing Partner of DMC Investments. “TraceSecurity’s suite of security compliance products and services are quickly becoming the de facto standard for corporations required to meet industry regulations and best practices.”

 
About TraceSecurity
TraceSecurity is a leading provider of security compliance and risk management solutions. The company helps organizations of all sizes to achieve, maintain and demonstrate security compliance while significantly improving their security posture. Key to TraceSecurity’s success is the company’s comprehensive patent-pending methodology that helps clients address all of the critical components of a successful security compliance program; people, process and technology.

TraceSecurity delivers its solutions through an integrated software-as-a-service platform backed by expert professional services and comprehensive security awareness programs. The company’s flagship offering, TraceSecurity Compliance Manager, is the first comprehensive solution to automate regulatory compliance audits, board level reporting, policy management, vulnerability assessment, and employee education and testing. The company’s expert professional services include onsite risk assessments, security audits, and social engineering. The security awareness programs include an exhaustive set of standard offerings as well as custom designed courses. With over 600 clients, TraceSecurity supports the risk management and security compliance efforts of organizations in financial services, healthcare, insurance, government and other regulated sectors. For more information, please visit www.tracesecurity.com.
 

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FOR IMMEDIATE RELEASE:
David Splivalo
Freestyle Public Relations
515-223-4343
david@freestylepr.com

Note: TraceSecurity is a trademark of TraceSecurity, Inc.