US identity solutions provider Saviynt has secured $130m in investment from PNC Bank and HPS Investment Partners.
Following the funding round, Saviynt has raised a total of $170m in overall funding since its inception in 2010.
Saviynt markets a cloud-built identity and access governance platform that it claims helps modern organisations scale cloud initiatives and solve security and compliance challenges in record time.
The firm’s Enterprise Identity Cloud platform combines identity governance, granular application process, cloud security and privileged access to secure the entire business ecosystem.
According to Saviynt, it intends to invest the funds it has raised in research and development and personnel in order to better meet demand for its cloud-based identity solution.
Saviynt CEO Amit Saha said, “Demand for our cloud identity solutions has never been higher as companies continue prioritizing business transformation with a focus on an identity-defined security perimeter to reduce hybrid workforce risks, meet evolving regulations, and protect multi-cloud environments.”
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