Identity and access governance solutions provider Saviynt on Monday announced that it has received a $130 million investment from HPS Investment Partners and PNC Bank. To date, the company has raised $170 million in funding.
Saviynt plans to invest the funds in research and development and personnel, to better meet demand for its cloud-based identity solution.
Increasingly aware of risks associated with identity-related security breaches, organizations worldwide are shifting toward a Zero Trust approach in which identity management is a central piece.
Alongside identity governance (IGA), the company’s Enterprise Identity Cloud platform offers privileged access, cloud security, and granular application access capabilities.
“Demand for our cloud identity solutions has never been higher as companies continue prioritizing business transformation with a focus on an identity-defined security perimeter to reduce hybrid workforce risks, meet evolving regulations, and protect multi-cloud environments,” Saviynt CEO Amit Saha said.