Clear Skye eyes team expansion with Series A funding

Clear Skye, an identity security and governance service, has scored $14m in its Series A funding round, as it looks to bolster its team.

The round was co-led by Storm Ventures and Toba Capital, with commitments also coming from Point Field Partners and Inner Loop Capital.

As part of its hiring efforts, the company has recently hired former Saviynt product marketing Erin Duncan as its CMO. Other new hires include Jackson Shaw as its chief strategy officer, Mike Tierney as a senior vice president and Jen Ilsley as a vice president.

Funds from the Series A will also be used to bolster Clear Skye’s global footprint.

This Series A comes after a strong year of growth for Clear Skye, which includes five-times revenue growth.

Clear Skye claims to be the only identity security and governance solution built natively on ServiceNow.

Its customer base includes ABB, West Fraser, Blackhawk Network, Premise Health and more.

As part of the investment, Storm Ventures Partner Arun Penmetsa will join the Skye board of directors.

Penmetsa said, “Today, workers have access to many more applications, which poses a challenge for identity and governance teams that are tasked with access control, managing compliance, and monitoring individual and enterprise-wide threats. Clear Skye addresses this need through a modern platform without the pain of replacing legacy IT systems.

“Our investment in the company reinforces our belief in the value of extending identity beyond risk and security to embrace enhanced operations and IT workflows that improve overall business outcomes.”

With the close of the round, the company has raised a total of $20m in equity. The company previously raised $4.95m in May 2020.

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