Akeyless, a cyber security startup from Israel that calls itself the secrets management company, offering zero-trust access (PAM 2.0) and data protection, raised $65 million in a Series B round of funding led by NGP Capital. The company has now raised $80 million.
This is some good news for Israel Startup Nation as recent times have seen more local companies contract than bring in new funding. But Akeyless shows that cyber security tech will always be in demand and security firms have still been raking in the dough.
This is because cyber security 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.
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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.
The Akeyless SaaS platform, says the company, is built on top of a unique KMS (Key Management System) patented technology that enables us to provide a true Zero Knowledge solution where even Akeyless can’t access the customers’ secrets and keys.
Oded Hareven said, “Akeyless solves the pain caused by secrets proliferation in production environments of modern enterprises, which has worsened with the rise in adoption of modern DevOps methodologies, containerized application development, and increasingly global and remote operations.”
The company stated that in the past year, the number of DevOps professionals and Security practitioners using Akeyless has increased fivefold, now numbering in the thousands. Its tech is used by Fortune 50 companies as well as mid-to-large enterprises across industries and geographies, who, boasts Akeyless, now enjoy streamlined secrets management with wide functionality for protecting both machine and human secrets.