Israeli start-up Authomize, which describes itself as an ID and Security Management Platform (IDSM), has announced Series A funding of $16 million, taking the total raised to $22 million since it came out of stealth mode last summer. This round is with Blumberg Capital, Entree Capital and M12 (Microsoft’s venture fund). The money raised will be used for product development as well as to expand sales and marketing in the US and Israel.
Authomize already secures millions of identities and tens of millions of assets across a range of organisations, industries and regions worldwide. “As the complexity and scale of managing and securing permissions in the cloud continues to grow, there is an obvious need for an AI-powered permission management solution,” said Dotan Bar Noy, CEO and co-founder of Authomize.
Authomize provides a unified solution that covers a wider range of identity and authorisation use cases. It enables teams to automatically detect and remediate Identity and Access Management (IAM) risks across any environment by enabling them to define and enforce the right level of permissions. The platform also provides continuous risk analysis, along with actionable insights to minimise security risks, reduce IT overload, and ensure continuous compliance.
ID verification, security and permissions is undoubtedly one of the most critical pieces in digital experience – particularly with increased homeworking, a collaborative work environment, and larger numbers of contractors. Authomize is initially focusing on B2B use cases and makes an interesting possible partner for B2B service providers looking to add to their enterprise portfolios for a diverse range of industries. However, beyond this is an opportunity to utilise this type of capability within CCAPS where permission and access controls for remote workers needs to managed, and to ensure a more sophisticated approach to parental, business and application controls and enforcement in the SME and household sectors.