Automated machine identity management platform AppViewX has secured $20m in its Series B round.
The capital injection was led by growth equity firm Brighton Park Capital.
With the funds, the company plans to maximise its go-to-market operations, product development and overall revenue growth strategies.
AppViewX’s mission is to help Global 2,000 organisations reduce risk by securing and orchestrating enterprise identities and applications.
The company’s automation platform helps reduce risk and ensures compliance with regulations in the financial services, banking, healthcare, manufacturing and high-tech sectors.
Its platform is a modular software application that enables automation and orchestration of network infrastructure and helps improve agility, enforce compliance, eliminate errors, and reduce cost.
Services include certificate lifecycle automation, lifecycle management for DevOps, smart discovery, CLM-as-a-service and more.
AppViewX CEO Gregory Webb said, “Because of Digital Transformation initiatives and the accelerated shift to multi-hybrid cloud, the number of machine and app identities has grown exponentially.
“To reduce their digital risk, organisations acknowledge the importance of machine identity management, but there’s a lack of mature certificate lifecycle capabilities from antiquated, manual tools and siloed tactics. AppViewX enables organisations to reduce this growing risk with our Automation Platform, which facilitates digital transformation through streamlined workflows to prevent outages and reduce security incidents.”
As part of the investment, AppViewX has made three strategic hires. It has named Samantha Symonds as vice president of legal, Phil Biegler as senior vice president, customers and Bryan Grabowski as vice president of alliances.
Last month, AI-powered business automation and learning platforms CogniCor raised fresh funding. Its platform supplies Fortune 500 financial firms with AI-powered front and back-office automation services to help improve productivity and redirect employee resources.
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