Aembit, a pioneer in non-human identity and access management (IAM), has successfully raised $25m in its Series A funding round.
This investment boosts Aembit’s total capital to nearly $45m. The round was spearheaded by Acrew Capital, with contributions from previous backers including Ballistic Ventures, Ten Eleven Ventures, Okta Ventures, and the CrowdStrike Falcon Fund.
The company specialises in non-human identity (NHI) management, which includes the various applications, scripts, and bots used by enterprises to automate processes, as well as the credentials these NHIs use to interact with critical databases, applications, and infrastructure. Recent high-profile security breaches involving NHIs at major firms like Cloudflare, The New York Times, and Microsoft have highlighted the urgent need for robust NHI management solutions.
Aembit’s funding will primarily be directed towards enhancing their cutting-edge non-human IAM technology. This involves automating identity-driven, secretless, centrally enforced, and auditable access between distributed applications and SaaS services to cloud and on-premises resources. By innovating in this field, Aembit aims to reduce the attack surface associated with the growing and diverse landscape of non-human identities.
Additional context from the funding round includes insights from a recent survey conducted by Aembit. It revealed significant challenges in secure management of NHI credentials within the industry, with over 30% of organizations still storing credentials within code and 23% using less secure methods like email and chat for sharing credentials. More than 60% of respondents expressed a need for a comprehensive solution that spans their entire organization.
Aembit has been recognized as a leader in the non-human IAM sector, being named a Top 2 finalist at the 2024 RSA Innovation Sandbox competition and a finalist for the Best Identity Management Solution at the 2024 SC Awards. These accolades underscore the company’s commitment to advancing secure access management capabilities, including multi-factor authentication (MFA) strength conditional access, policy automation via infrastructure-as-code, and robust auditing for NHI access.
“Aembit is tackling one of the most pressing challenges in modern enterprise security,” Acrew Capital founding partner Mark Kraynak commented. “The shift to cloud and SaaS, and AI has driven an order-of-magnitude expansion in non-human identities. We are thrilled to be partnering with Aembit to bring a new approach to the market.”
David Goldschlag, co-founder and CEO of Aembit, shared, “Kevin and I founded Aembit with a vision to help enterprises secure access between non-human workloads, applications, and software resources with the same principles used today to secure human access. Our approach centers on proactively securing access between non-human identities, while eliminating friction for developers and security teams.”
“By solving non-human IAM, Aembit is tackling an essential security challenge,” added Brad Jones, CISO at Snowflake and an Aembit customer.
Previously, Aembit had raised nearly $20m in earlier funding stages, which has supported its development up to this latest investment round.
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