Identity management startup SGNL this week announced raising $30 million in Series A funding, which brings the total raised by the company to $42 million.
The new investment round was led by Brightmind Partners, with additional support from Costanoa Ventures, Microsoft’s M12, and Cisco Investments.
Founded in 2021, the Palo Alto, California-based startup has built an identity-first security solution that protects organizations’ assets by eliminating static credentials and providing real-time automated access decisions.
SGNL’s identity management system ensures that all stakeholders – such as employees, contractors, and partners – are provided with the right access at the right time. That access is revoked as soon as it is no longer needed.
According to the company, this approach increases security, reduces costs, and simplifies compliance compared to legacy access security solutions that rely on rigid, role-based access controls.
The startup says its solution has been adopted by multiple Fortune 50 businesses and numerous Fortune 500 companies.
The fresh infusion of cash will enable SGNL to expand its go-to-market and product teams, grow its market presence, and strengthen its commitment to open security frameworks.
“Customers tell us they need a solution that actually adapts to their business, not one that adds more overhead and complexity. SGNL is meeting this need with a modern, intelligent approach that makes identity-first security seamless, scalable, and effective,” said SGNL co-founder and CEO Scott Kriz.
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