Third-party identity risk solutions provider SecZetta this week announced that it has raised $20.5 million in Series B funding, which brings the total raised by the company to $30.5 million.
The new investment round was led by SYN Ventures and new investor MassMutual Ventures. Existing investors ClearSky and Rally Ventures also contributed.
SecZetta’s identity risk platform helps organizations manage the risks associated with third-party users that need access to various internal resources. These include affiliates, contractors, partners, vendors, supply chains, and more.
Founded in 2019, SecZetta is based in Newport, Rhode Island. The company claims its solution can provide efficient third-party identity risk management without an increase in costs, through automation.
The new funding, the company says, will help it strengthen third-party identity risk initiatives, expand the capabilities of its platform, and help drive growth in both existing and new markets.
SecZetta claims it has significantly increased its customer base, and says it’s hiring aggressively to support global growth.
“To be successful, organizations need to automate best practices for managing the dynamic relationships required by their third-party resources and redefine the lines between identity and risk management,” David Pignolet, CEO and founder of SecZetta, said. “This is SecZetta’s sweet spot, enabling organizations to manage the identity lifecycle and risk of third-party workers with the same or greater diligence as their employees.”
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