Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Funding/M&A

Saviynt Raises $205M; Founder Rejoins as CEO

Identity and access governance vendor Saviynt has closed a $205 million financing round.

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

Advertisement. Scroll to continue reading.

Related: BalkanID Raises $6M for Intelligent IGA Technology

Related: Investors Bet $31 Million on Sphere for Identity Hygiene Tech

Written By

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.

Click to comment

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join the session as we discuss the challenges and best practices for cybersecurity leaders managing cloud identities.

Register

SecurityWeek’s Ransomware Resilience and Recovery Summit helps businesses to plan, prepare, and recover from a ransomware incident.

Register

People on the Move

Kim Larsen is new Chief Information Security Officer at Keepit

Professional services company Slalom has appointed Christopher Burger as its first CISO.

Allied Universal announced that Deanna Steele has joined the company as CIO for North America.

More People On The Move

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

Identity & Access

Zero trust is not a replacement for identity and access management (IAM), but is the extension of IAM principles from people to everyone and...

Cyber Insurance

Cyberinsurance and protection firm Boxx Insurance raises $14.4 million in a Series B funding round led by Zurich Insurance.

CISO Strategy

Okta is blaming the recent hack of its support system on an employee who logged into a personal Google account on a company-managed laptop.

Malware & Threats

The NSA and FBI warn that a Chinese state-sponsored APT called BlackTech is hacking into network edge devices and using firmware implants to silently...

Cybersecurity Funding

2022 Cybersecurity Year in Review: Top news headlines and trends that impacted the security ecosystem

Cybersecurity Funding

Network security provider Corsa Security last week announced that it has raised $10 million from Roadmap Capital. To date, the company has raised $50...