P0 Security, a pioneer in cloud identity security, has recently secured $15m in a Series A funding round.
The round was led by SYN Ventures and saw participation from cloud security leader Zscaler, along with existing investor Lightspeed Venture Partners. The company has also welcomed SYN Ventures Operating Partner, Ryan Permeh, to its Board of Directors.
Since its inception, P0 Security has raised a total of $20m. The company stands out in the cloud-native landscape, which is increasingly characterized by an explosion of resources, data locations, and identities that extend far beyond traditional network boundaries. This complexity has rendered legacy identity and access management solutions inadequate for today’s distributed digital infrastructures.
P0 Security introduces a groundbreaking approach to access governance and identity security. The company offers a unified Identity Governance and Administration (IGA) and Privileged Access Management (PAM) platform that is specifically designed for cloud environments.
Its agentless architecture enables rapid deployment, granting security teams unprecedented visibility and control over both human and non-human identities accessing cloud resources. The platform is engineered to support seamless integration and management of access rights, streamlining the access lifecycle for developers and automated identities through user-friendly workflows.
Reflecting on the recent funding, Shashwat Sehgal, CEO and co-founder of P0 Security, highlighted the market’s strong endorsement of their vision. “We’ve seen tremendous traction since P0 Security emerged from stealth just ten months ago. This funding is a testament to our investors’ confidence in our vision, product, and the market opportunity ahead of us,” Sehgal commented.
He further explained that traditional tools fail to address the complexities introduced by the cloud, especially the involvement of non-human identities. P0 Security’s platform is designed to answer the pressing question of who or what can access organizational cloud resources, thereby restoring control to organizations.
The new capital will empower P0 Security to expand its go-to-market and engineering teams significantly, aiming to cater to its growing customer base that includes major players in technology and financial services sectors.
Ryan Permeh of SYN Ventures praised P0 Security’s innovative approach: “P0 Security is a natural fit for the SYN portfolio,” he said. “With an incredible track record of success from leaders like Splunk, Cisco, and Semgrep, the P0 team is the first to tackle a critical business need with a 100% cloud-focused, unified platform for governing access for both human and non-human identities. This isn’t just a tired IGA and PAM refresh wedged in the cloud, it’s a first-order solution to real problems.”
Copyright © 2024 RegTech Analyst
Copyright © 2018 RegTech Analyst
