Israeli stealth company Akeyless raises $65 million

Israeli privacy management company Akeyless today announced the completion of a $65 million Series B funding round led by NGP Capital, with participation from existing investors Team8 Capital and Jerusalem Venture Partners (JVP). Mike Christenson, former COO and President of New Relic and CA Technologies, has joined Akeyless as an investor and board member. The latest investment brings the total amount raised by the company to $80 million.

With offices in Ramat Gan and New York, Akeyless was founded by CEO Oded Hareven, President Shai Onn and CTO Refael Angel. The company has developed a SaaS-based privacy management platform to secure DevOps and IT workloads within hybrid and multi-cloud environments and protect passwords and credentials, certificates and keys.

Hareven said: “Existing privacy management solutions do not meet the current needs of enterprises. Organizations are looking for an alternative to open source privacy vaults – which are far from free given the extensive maintenance requirements – and commercial solutions with high licensing costs. which are difficult to deploy and use. Secret management should reduce the attack surface, but current solutions only increase it by creating additional infrastructure for teams to secure and maintain.”

He added: “Akeyless solves the pain caused by the proliferation of secrets in today’s enterprise production environment, which has been exacerbated by the increased adoption of modern DevOps methodologies, containerized development applications and increasingly global and remote operations. We are proud to be trusted by Fortune 50 companies as well as mid-sized companies and provide them with a low total cost of ownership for their privacy management along with high adoption among teams.”

Akeyless stores customer secrets and makes them available throughout its environment, while its patented DFC (Distributed Fragments Cryptography) technology makes the secrets inaccessible to anyone other than the customer – Akeyless included.

Onn said: “With limited security expertise, staff and budgets, companies were forced to choose between prohibitively expensive and labor-intensive solutions or compromising security. With this latest funding, we will further enable mid-sized businesses to operate securely in cloud environments. in the midst of an increasingly sophisticated and aggressive cyber landscape.”

Published by Globes, Israel Business News – en.globes.co.il – November 16, 2022.

© Copyright Globes Publisher Itonut (1983) Ltd., 2022.


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