PlainID, a New York- and Tel Aviv-based cybersecurity startup, has raised $11m in a new funding.
The Series A round was led by Viola Ventures, with participation from Capri Ventures, Springtide Ventures and iAngels. With new funding onboard, PlainID plans to expand its U.S. sales & marketing operations, customer support, and R&D team.
Founded in 2015, PlainID is an authorisation management platform that disrupts the way identities, human and non-human, access data assets on prem and in the cloud. Due to ‘endless permutations’ between identities, hybrid IT environments and APIs, the company allows enterprises to control authorisation policies in real-time through an agnostic, easy to configure, master policy layer.
“The authorization landscape is changing and understanding who can access what and when becomes a critical question, that requires a good answer,” said Oren Ohayon Harel, CEO and co-founder of PlainID. “A simplified authorisation platform meets the intricate demands of a growing enterprise by maximising security and minimising anxiety.”
Its platform claims to offer a clear understanding of every authorization level, in the cloud, mobile and on-premise applications, as well as complete control over the entire organisation’s authorisation process. The solution enables business leaders, data governance professionals and security teams in the organisation one externalised solution where they can view and implement organisational policies across multiple protocols.
“Run-time authorization is becoming more complex in an era of Enterprise automation. Current solutions no longer meet the changing requirements of hybrid IT environments, API collaboration and the introduction of more robotic process automation solutions,” said Omry Ben David, partner at Viola Ventures. “We believe that externalized fine-grain authorisation will become the next large category in IAM, in a similar way to how Okta built the authentication category by externalizing the process and offering a single sign-on solution”.
Earlier this year, Viola led a $18m financing round for CyberInt, an Israeli cybersecurity detection and response services company. CyberInt claims to eliminate potential threats before they become crises. It does by looking at all online activities and digital assets from an attacker’s perspective and provides managed detection and response services to customers worldwide.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
