Procyon, a privilege access management platform built for multi-cloud environments, has landed $6.5m in an equity financing round.
The round was led by Lobby Capital and saw participation from GTM Capital and First Rays Venture Partners. Alongside the funding, the company also launched the industry’s first PAM solution built for cloud-native environments.
Procyon claims it is redefining the conventional approach to privilege access management for developers and DevOps teams with a new model that meets their need for quick access to systems and applications while working across distributed teams to manage thousands of cloud services.
Procyon said its multi-cloud privilege access management platform offers self-service access, compliance and governance, strong device identity and zero-standing and just-in-time privileges.
Procyon CEO and co-founder Sukhesh Halemane said, “Conventional PAM solutions are currently caught between a proverbial rock and hard place. Cloud computing has exponentially increased the complexity of IT resources requiring privileged management.
“At the same time, escalating security concerns are forcing many modern enterprises to incorporate the best practices. Procyon’s frictionless experience allows DevOps teams to operate both efficiently and securely.”
Sendmarc, which protects against email impersonation, has reportedly raised $7m in its Series A round, as it looks to expand its team globally.
Copyright © 2023 FinTech Global
