Cybersecurity startup PlainID raises $11 million to address growing demand for its platform and accelerate sales & marketing operations
With increasing cyber attacks and data breaches making the daily headlines, the days of using a single authorization point for serious website security are long gone. In addition, trying to deal with the ever-growing complexity of authorization has always been a challenge. This challenge has just reached a whole new level as businesses demand authorization support to back their rapid growth, expand their boundaries to the cloud and mobile, and require multiple entities control.
Recognizing these frustrations, the Tel Aviv, Israel-based PlainID is a new cybersecurity startup with an authorization management platform that disrupts the way identities, human and non-human, access data assets on premise and in the cloud with simplified authorization. The company announced today that it has raised $11 million in a Series A Round to expand the Company’s U.S. sales & marketing operations, customer support, and R&D team. The latest funding was led by Viola Ventures, with participation from Capri Ventures, Springtide Ventures and iAngels.
Founded in 2015 by Dmitry Tuchinsky, Gal Helemski, and Oren Ohayo Harel, PlainID lets business owners control and fine-tune access by providing a clear view and understanding of every authorization level. It provides an advanced policy-based access control solution which by creating lateral authorization business policies, minimizes complexity and lets business owners control and fine-tune access. PlainID’s platform offers a clear understanding of every authorization level, in the cloud, mobile and on-premise applications, as well as complete control over the entire organization’s authorization process. This gives business leaders, data governance professionals and security teams in the organization one externalized solution where they can seamlessly view and implement organizational policies across multiple protocols.
“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 authorization platform meets the intricate demands of a growing enterprise by maximizing security and minimizing anxiety.”
“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 authorization 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.”
“PlainID provides a new generation tool allowing managers to gain control and flexibility in managing authorization across their organizations while minimizing dependency on IT specialists,” said Marek Jablonsky, Executive Director atSpringtide Ventures. “Importantly, the solution also addresses regulatory requirements and provides the necessary “peace of mind” to the executives when it comes to auditable robustly process-based IAM. Building on their hands-on experience from their previous roles as IT security executives with large enterprises the founders have managed to develop a largely superior solution with a potential to disrupt and redefine the category.”