Silverfort, a trailblazer in the identity protection sector, has recently celebrated a significant financial milestone, securing a substantial $116m in Series D funding.
This latest injection of capital elevates the company’s total funding to an impressive $222m. The round was spearheaded by Brighton Park Capital (BPC), and saw contributions from a cohort of existing investors including Acrew Capital, Greenfield Partners, Citi Ventures, General Motors Ventures, Maor Investments, Vintage Investment Partners, and Singtel Innov8.
In conjunction with this investment, Mike Gregoire, a founding Partner at BPC and a veteran leader formerly at the helm of CA Technologies and Taleo, is set to augment Silverfort’s Board of Directors.
Silverfort stands at the forefront of identity security, redefining how enterprises safeguard their identities. The company’s platform is uniquely designed to break down the silos and blind spots that have historically plagued identity security. With a comprehensive approach, Silverfort’s platform extends advanced identity security measures across all enterprise resources, both on-premises and in the cloud. It boasts the capability to protect even those systems that have been traditionally deemed ‘unprotectable’. The platform’s arsenal includes Multi-Factor Authentication (MFA), Identity Threat Detection and Response (ITDR), Identity Security Posture Management (ISPM), and real-time protections tailored for privileged users and service accounts.
The impetus behind this new capital influx is clear: Silverfort is committed to scaling its global presence, already spanning over 15 countries, and to catalyse its platform development with innovative product modules. Additionally, the company aims to turbocharge its go-to-market strategy, with a pronounced focus on nurturing channel partnerships.
As expressed by Hed Kovetz, Silverfort’s Co-Founder and CEO, “Identity has become the weakest link in enterprise security, and solving it requires a new approach – a unified, end-to-end layer of security that covers all the silos and blind spots of the identity infrastructure.
“We are very excited about our new partnership with BPC, which will allow us to accelerate our platform vision and strong business momentum. We look forward to reshaping the way identity security is done in every company, to effectively answer today’s and tomorrow’s cyber threats.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
