Capitalizing on increased global demand, PlainID provides the only real-time fine-grain “authorization as a service” solution
NEW YORK and TEL AVIV, Israel-PlainID, an authorization management platform that disrupts the way identities, human and non-human, access data assets on prem and in the cloud, announced today that it has raised $11 Million in a Series A Round led by Viola Ventures, with participation from Capri Ventures, Springtide Ventures and iAngels.
Building on strategic wins with Fortune 500 companies, PlainID will use this strategic round to address growing demand for its platform and accelerate commercial success.
In a world with endless permutations between identities, hybrid IT environments and APIs, the company allows enterprises to control authorization policies in real-time through an agnostic, easy to configure, master policy layer.
The platform offers a clear understanding of every authorization level, in the cloud, mobile and on-premise applications, as well as complete control over the entire organization’s authorization process. This gives business leaders, data governance professionals and security teams in the organization one externalized solution where they can seamlessly view and implement organizational policies across multiple protocols.
The funding round will be used to expand the Company’s U.S. sales & marketing operations, customer support, and R&D team.
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“The authorization landscape is changing and understanding who can access what and when becomes a critical question, that requires a good answer,” said OrenOhayon Harel, CEO and Co-Founder of PlainID. “A simplified authorization platform meets the intricate demands of a growing enterprise by maximizing security and minimizing anxiety.”
“Run-time authorization is becoming more complex in an era of Enterprise automation. Current solutions no longer meet the changing requirements of hybrid IT environments, API collaboration and the introduction of more robotic process automation solutions,” said Omry Ben David, Partner at Viola Ventures. “We believe that externalized fine-grain authorization will become the next large category in IAM, in a similar way to how Okta built the authentication category by externalizing the process and offering a single sign-on solution.”
“PlainID provides a new generation tool allowing managers to gain control and flexibility in managing authorization across their organizations while minimizing dependency on IT specialists,” said Marek Jablonsky, Executive Director atSpringtide Ventures. “Importantly, the solution also addresses regulatory requirements and provides the necessary “peace of mind” to the executives when it comes to auditable robustly process-based IAM. Building on their hands-on experience from their previous roles as IT security executives with large enterprises the founders have managed to develop a largely superior solution with a potential to disrupt and redefine the category.”