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New Israeli Startup Akeyless Offers Cloud Security Services – Raises $14 Million

There is a good reason why cybersecurity startups are so valuable today.

The founders of Akeyless: L to R CEO Oded Hareven, Company President Shai Onn and CTO Refael Angel (Company PR pic)

Akeyless is yet another cybersecurity startup from Israel. It calls itself the secrets management company, offering zero-trust access (PAM 2.0) and data protection (encryption, signing and KMS). Akeyless has secured a $14 million in a Series A round of financing led by Team8 and with participation from Jerusalem Venture Partners (JVP).

Founded in 2018 by CEO Oded Hareven, CTO Refael Angel and company president Shai Onn, Akeyless is an innovative Secrets & Keys Management-as-a-Service solution, made to protect the Hybrid and Multi-Cloud environments. The company offers an enterprise-grade holistic solution; made to protect and manage any type of Secret: Encryption Keys, TLS Certificates, Passwords, API Tokens, SSH Keys and more. It also offers an environment agnostic; either on-prem, private cloud and as-a-Service for Public Cloud, as well as Zero-Knowledge Encryption Technology; Patented innovative no-trust Encryption Keys Management system.

Cybersecurity is more important than ever. Hackers are not only motivated by money or politics. They often just like being malicious. So even small companies need to be on their guard and be sure to properly protect their systems.

And everything is going into the cloud these days. Do you use Google Docs, or any of the other Google services? Well then all of your files are stored in servers located around the world. The same thing is also now true with MS Office which offers customers cloud based software services. Notebook computers have always had a limited storage capacity. And more and more people are switching to tablets which do not offer the same services as a computer. So cloud services will soon be standard.

Cloud security, in turn, refers to the technologies, policies, controls, and services that protect cloud data, applications, and infrastructure from threats.

So there is a good reason why cybersecurity startups are so valuable today. As many as 10 Israeli cybersecurity startups have held financing rounds so far this year alone. These include Axis Security Inc. which promises to protect your business as it does business in the cloud. Its solution is Application Access Cloud and which raised $50 million in March. Also in March, StarkWare, an Israeli cybersecurity startup which specializes in the development of solutions for enlarging blockchain capacity, completed a $75 million financing round.

Akeyless experienced tremendous growth in 2020, being recognized by Gartner as a key player in the realm of workload identities and trusted by enterprises in multiple sectors, including web-scale companies, adtech, internet technology, gaming, consumer goods, and pharmaceuticals, with partners and customers such as Outbrain, Venafi, Progress/Chef and Cimpress. The firm will use the funding to accelerate product development and growth of the world’s first SaaS-based unified vault, built for secrets management and zero-trust access.

“Having the backing of both Team8 and JVP, the ideal venture partners given their track record in powering the success of innovative cyber security startups, is testimony to the disruption Akeyless brings to the market,” said Oded Hareven, Akeyless Co-Founder and CEO. “We are thrilled to have their invaluable support as we bring our innovative secrets management platform into the new era of hybrid and multi-cloud. Our highly scalable enterprise-grade service is designed to serve an infinite number of customers, secrets and transactions, built on top of multi-region and multi-cloud operations.”

“Akeyless is uniquely positioned to take on the secrets management sector – through a platform that not only modernizes the practice but makes it more accessible and effective for businesses,” said Iftach Ian Amit, Chief Information Security Officer, Cimpress. “To top it off, the scalability and cost saving it brings make transitioning from any existing solution a no-brainer.”



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