Identity and access governance vendor Saviynt on Tuesday announced the closing of a $205 million financing round and the return of its founder Sachin Nayyar as chief executive.
The latest funding brings the total raised by the California company to $375 million and provides a growth-mode runway for Saviynt to establish a foothold in a very competitive marketplace.
The new $205 million round was led by AB Private Credit Investors’ Tech Capital Solutions group, an affiliate of global investment management firm AllianceBernstein.
Saviynt sells technology in the intelligent identity and access governance category. The company’s tools help organizations secure critical apps, data, and infrastructure in the cloud.
In tandem with the funding news, Saviynt said founder Sachin Nayyar will return to the company and take on the CEO role. Nayyar first led Saviynt from its creation in 2011 through 2018.
Saviynt said it is enjoying exceptional company growth driven by continued strong demand for its Enterprise Identity Cloud, a cloud-native converged identity platform for workforce, enterprise applications, privileged and third-party identities.
The company said businesses are using its EIC platform to maximize ROI, lower costs, reduce complexity, and streamline IAM processes.
Related: Identity Solutions Provider Saviynt Raises $130 Million
Related: BalkanID Raises $6M for Intelligent IGA Technology
Related: Investors Bet $31 Million on Sphere for Identity Hygiene Tech
Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. He is a security community engagement expert who has built programs at major global brands, including Intel Corp., Bishop Fox and GReAT. Ryan is a founding-director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world.
More from Ryan Naraine
- Oleria Scores $8M Seed Funding for ID Authentication Technology
- Aembit Scores $16.6M Seed Funding for Workload IAM Technology
- Project Zero: Samsung Mobile Chipsets Vulnerable to Baseband Code Execution Exploits
- Rapid7 Buys Anti-Ransomware Firm Minerva Labs for $38 Million
- Microsoft Pins Outlook Zero-Day Attacks on Russian Actor, Offers Detection Script
- Microsoft Warns of Outlook Zero-Day Exploitation, Patches 80 Security Vulns
- Adobe Warns of ‘Very Limited Attacks’ Exploiting ColdFusion Zero-Day
- Cloud Forensics Startup Mitiga Completes $45M Series A
Latest News
- Ransomware Will Likely Target OT Systems in EU Transport Sector: ENISA
- Virtual Event Today: Supply Chain & Third-Party Risk Summit
- Google Suspends Chinese Shopping App Amid Security Concerns
- Verosint Launches Account Fraud Detection and Prevention Platform
- Ransomware Gang Publishes Data Allegedly Stolen From Maritime Firm Royal Dirkzwager
- Zoom Paid Out $3.9 Million in Bug Bounties in 2022
- Oleria Scores $8M Seed Funding for ID Authentication Technology
- Exploitation of 55 Zero-Day Vulnerabilities Came to Light in 2022: Mandiant
