Authomize, an identity and security management platform, has scored $16m in its Series A round, alongside its launch out of stealth.
Innovation Endeavors led the round, with other commitments coming from Blumberg Capital, Entree Capital and M12 – Microsoft’s venture fund.
Funds from the round will be used to accelerate the development of its platform and accelerate its go-to-market strategy. Additionally, the company will expand its partner network and will double its headcount across its research and development, marketing and sales teams in the US and Israel.
The RegTech claims to secure millions of identities and tens of millions of assets across a range of organisations, industries and regions. Its platform enables teams to automatically detect and remediate identity and access management risks across any environment by enabling them to define and enforce the right level of permissions.
The platform offers continuous protection and ensures adherence to security and compliance standards.
Authomize CEO and co-founder Dotan Bar Noy said, “As the complexity and scale of managing and securing permissions in the cloud continue to grow, there is an obvious need for an AI-powered permission management solution.
“Authomize addresses the growing need for a unified solution that covers a wider range of identity and authorization use cases. Our platform offers a complete set of capabilities from the PAM, IGA, CIEM and CSPM segments, which helps teams mitigate a broader range of security risks from a single solution.”
Ass part of the deal, Innovation Endeavors partner Harpinder Singh will join the Authomize board of directors.
With the close of the round, the company has raised a total of $22m in funding.
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