Saviynt on Tuesday announced raising $700 million in a Series B growth equity funding round that values the identity security company at roughly $3 billion.
Saviynt previously raised $40 million in 2018, $130 million in 2021, and $205 million in 2023.
The company’s latest funding was led by global investment giant KKR, with participation from Sixth Street Growth, TenEleven, and Carrick Capital Partners.
Saviynt has developed an AI-powered platform designed for managing and securing human, non-human, and AI agent identities across applications, data, and infrastructure.
The platform provides identity management and governance (IGA), application access governance (AAG), privileged access management (PAM), and identity security posture management (ISPM) capabilities.
The new investment will be used for product development, solutions that facilitate migration from legacy platforms to Saviynt, and boosting integration with third-party platforms.
“The demand for secure, governed identity has never been greater, and this growth investment gives us the resources to meet it head-on,” said Sachin Nayyar, founder and CEO of Saviynt.
Although the company announced a $700 million Series B growth-equity round, the full amount is unlikely to go directly into the business. Large financings often include a secondary component, in which part of the investment is used to purchase shares from existing shareholders and provide liquidity to early investors or employees. Responding to a SecurityWeek inquiry, the company declined to share details beyond what was included in the announcement.
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