Anetac, a Silicon Valley startup specialising in cybersecurity, has raised $16m in its latest funding round.
The investment was led by Liberty Global and saw participation from Shield Capital, GP Ventures, Anetac CEO Tim Eades, and cybersecurity expert Jason Witty.
The company’s Dynamic Identity and Security Platform continuously discovers and monitors an organization’s service accounts, addressing one of the most common vectors for attackers. Anetac’s solution offers real-time visibility into service account access chains, protocols, security hygiene, and indicators of attack and compromise.
Anetac’s platform targets a global issue in security and identity management, particularly in hybrid environments, by offering dynamic visibility as opposed to static scanning. The company’s services cater to major airlines, banking institutions, educational centers, mining, and other vital businesses and infrastructure, addressing the significant threat surface exploited via service accounts.
Anetac CEO Tim Eades further emphasized the importance of their solution, stating, “This is a problem for every organization, in every industry. In today’s rapidly evolving threat landscape, we must acknowledge that the soft underbelly of any organization lies in its ability to monitor and secure dynamic and ever-changing environments with real-time security measures. It’s imperative to recognize that virtually every breach over the past decade has been exploited via service accounts.”
The Anetac Dynamic Identity and Security Platform offers businesses of all sizes real-time streaming visibility of non-human and shared-use service accounts, mapping of access chains, automated behavioral analysis, and dynamic reduction of attack surface. These capabilities empower organizations to proactively identify and remediate vulnerabilities, safeguarding their operations from evolving cyber threats.
Michael Brown, a partner at Shield Capital, said, “The Anetac Dynamic Identity and Security Platform streaming solution is disrupting the market by delivering continuous visibility of non-human service accounts and access chains for both cloud and on-premises environments. This innovative approach to securing service accounts sets a new standard and challenges traditional approaches like never before.
“Anetac launches amidst a global surge in cyber threat growth across all industries, addressing the critical need for a dynamic streaming solution offering constant visibility and control across all accounts – service, user and admin.”
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