Permiso Security, a startup in identity threat detection and response, has successfully secured $18.5 million in its latest funding round.
According to Silicon Angle, this significant injection of capital is spearheaded by Altimeter Capital Management LP, with notable participation from Point72 Ventures LLC, marking a new milestone for the company founded in 2020.
At its core, Permiso is revolutionising the way cloud infrastructures are secured. By deploying an identity-based cloud detection and response service, the company stands at the forefront of protecting modern digital enterprises.
Its innovative approach creates a unified view across various identity providers, cloud service providers, software-as-a-service (SaaS) apps, and infrastructure as code solutions. This comprehensive visibility allows for the pinpointing of the riskiest actors within any given environment, addressing a crucial need in today’s complex digital landscape.
The company’s mission is clear: to tackle the formidable challenges security teams face in monitoring threat actor activity across authentication boundaries. Through its sophisticated runtime graph and activity analysis engine, Permiso generates high-fidelity alerts, providing immediate attribution and context. This capability is crucial in a digital age where tracking all entities with access to an environment, whether via federation, role assumption, access tokens, or direct logins, is more important than ever.
With the new funds, Permiso plans to expand its integrations and introduce new product capabilities aimed at bolstering cloud security for its customers. This strategic direction underscores the company’s commitment to not only advancing its existing offerings but also to innovating new solutions that meet the evolving needs of the digital enterprise.
Since its emergence in 2022, Permiso has experienced remarkable growth and has attracted a roster of prestigious customers, including Autodesk Inc., Nutanix Inc., Coupa Software Inc., ACV Auctions Inc., and Modern Health Inc. The company has played a critical role in aiding various casino groups in defending their systems against attacks, highlighting its efficacy and reliability in the face of cybersecurity challenges.
Permiso co-founder and Chief Executive Jason Martin shared insights into the company’s strategy, stating, “Over the course of many of their campaigns, threat actor groups have demonstrated how they are able to target the identity provider and move seamlessly from the IDP to cloud hosting providers and into SaaS and CI/CD environments.” Martin’s commentary underscores the sophisticated nature of threats in the cloud environment and Permiso’s proactive stance in addressing them.
To date, including the latest Series A funding, Permiso has raised a total of $28.5 million. This achievement follows the launch of CloudGrappler on March 7, an open-source tool aimed at enhancing security teams’ ability to detect threat actors in environments powered by Microsoft Corp. Azure and Amazon Web Services Inc.
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