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OS/400 security software maker Safestone Technologies says it will use $4 million in second-round funding it received last week to facilitate the development and launch of its AxcessIT suite. The access-management suite, due next year, will include 11 modules, among them software to manage user passwords and digital certificates. The U.K. company has been selling a Web-based, single sign-on access-control gateway since May. It's testing a second module that provides profile-based user administration.
Security vendor Symantec, as well as original investors including Crucible, Larkfield, and 3i, participated in this round of funding. Anil Phull, senior analyst for security solutions and services at the Yankee Group, says Safestone is well-positioned to leverage its mainframe access-control market strength to compete with established access-management companies such as Netegrity.