Identity protection firm AuthMind on Tuesday announced raising $19.3 million in a seed funding round that brings the total investment in the company to roughly $28 million.
The new funding round was led by Cheyenne Ventures, with additional support from existing investors Ballistic Ventures and IBM, and investors at Black Opal Ventures, Blu Venture Investors, K2 Access Fund, the Jefferies Family Office, and Silver Buckshot Ventures.
Founded in 2020, the Bethesda, Maryland-based company has built an identity protection platform that takes an observability-based approach to securing identities across cloud, hybrid, SaaS, and on-premises environments.
According to AuthMind, its approach enables it to identify risks and attacks in real time, empowering organizations to securely adopt cloud and AI.
By continuously monitoring the flow of activities for both human and non-human identities, AuthMind aims to provide organizations with consolidated identity security posture management (ISPM) and threat detection and response (ITDR).
The startup says it can also discover weaknesses such as shadow assets, missing multi-factor authentication, SaaS app usage, unauthorized local accounts, compromised identities, and hygiene issues, as well as prevent dangerous activities such as access control bypasses and brute force attacks.
AuthMind will use the new funds to accelerate its go-to-market operations and invest in product innovation.
“As enterprises navigate increasingly complex technology environments, the complexity of identity protection has grown exponentially. AuthMind is addressing this challenge head-on with a new approach to identity protection through comprehensive identity observability, giving organizations the context, clarity, and control to protect their environments,” AuthMind CEO Shlomi Yanai said.
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