Israeli late-stage startup Silverfort on Tuesday said it raised a whopping $116 million in new financing to scale its ambitions in the identity security space.
The Tel Aviv company, which markets technology to secure authentication and access policies across corporate networks and cloud environments, said the Series D funding round was led by Brighton Capital.
Silverfort said existing investors Acrew Capital, Greenfield Partners, Citi Ventures, General Motors Ventures, Maor Investments, Vintage Investment Partners and Singtel Innov8 also expanded equity stakes.
The latest investment brings the total raised by Silverfort to $222 million.
Silverfort said the funding validates a successful business that added tens of millions in new Annual Recurring Revenue (ARR), and hundreds of new enterprise customers, including the largest global financial services, manufacturing and retail companies.
The company said the new capital will be used to add product modules to its flagship platform and speed up channel go-to-market partnerships.
The company’s technology helps businesses to manage Multi-Factor Authentication (MFA), Identity Threat Detection and Response (ITDR), Identity Security Posture Management (ISPM), and real-time protection for privileged users and service accounts.