Oleria, an adaptive and autonomous identity security firm, has announced the successful closure of a substantial $33.1m Series A funding round.
This latest financial infusion, spearheaded by Evolution Equity Partners, also drew notable participation from Salesforce Ventures, Tapestry VC, and Zscaler, catapulting the company’s total capital raised to a robust figure surpassing $40m.
Established as a beacon in the FinTech sector, Oleria is dedicated to redefining the landscape of identity security. With a firm focus on providing organizations with unparalleled visibility into their access posture, Oleria’s unique platform proactively identifies and mitigates access-related risks before they manifest into significant threats.
This proactive stance is deeply embedded in the company’s DNA, with a founding team that brings together decades of seasoned experience in constructing and managing large-scale security programs at tech giants such as Salesforce, Amazon, and Microsoft. This rich background affords Oleria a unique vantage point to comprehend and address the intricate challenges faced by Chief Information Security Officers (CISOs) in today’s rapidly evolving digital landscape.
In light of alarming industry statistics indicating that 80% of security breaches exploit compromised identities, Oleria’s mission has never been more critical. The company’s innovative approach to access management and identity security is a direct response to the growing complexities faced by organizations globally.
As these entities increasingly integrate a myriad of interconnected SaaS applications and cloud infrastructures to fuel their operations and innovations, Oleria’s solutions stand out as an indispensable ally in their quest to safeguard digital assets and maintain operational continuity.
The newly secured funds are earmarked to propel Oleria forward on multiple fronts. The company is poised to significantly ramp up its hiring efforts, aiming to enrich its team with top-tier talent. This strategic expansion is pivotal in accelerating Oleria’s product innovation journey, with a particular emphasis on enhancing AI capabilities.
Additionally, the financial boost will be instrumental in fortifying the company’s go-to-market strategy, ensuring that Oleria’s cutting-edge solutions are effectively delivered to a broader spectrum of clients, thereby reinforcing their digital fortresses against the ever-evolving threat landscape.
Reflecting on this remarkable milestone, Jim Alkove, co-founder and CEO of Oleria, expressed his enthusiasm about the journey ahead, stating, “Oleria provides organizations with comprehensive visibility into their access posture and autonomously identifies and mitigates access risks before they can be exploited. We are security operators building solutions for operators.
“Our team’s decades of experience in building and operating security programs at scale at tech leaders like Salesforce, Amazon, and Microsoft allows us to understand the complex challenges CISOs are facing and tailor our solutions to them.”
This Series A funding round follows on the heels of a successful $8m seed funding round, which was led by Salesforce Ventures. Since its inception just 10 months ago, Oleria has been steadfast in its mission, already making significant strides in the identity security domain and now gearing up for the general availability of its solutions in early 2024.
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