Entro Security, a trailblazer in Non-Human Identity (NHI) security, announced today its successful closing of an $18m Series A investment round.
The funding, spearheaded by Dell Technologies Capital, also saw participation from previous seed investors Hyperwise Ventures and StageOne Ventures, along with notable angel investors Rakesh Loonkar and Mickey Boodaei.
This new influx of capital aims to enhance Entro’s global operations and address the growing market demand for its innovative NHI and Secrets Management platform.
Since its emergence from stealth in May 2023, Entro Security has raised a total of $24m. The company specializes in securing enterprise-scale systems against the rising threats associated with machine-to-machine interactions.
The rapid expansion of cloud and Software as a Service (SaaS) technologies has exacerbated the proliferation of unmanaged NHIs and secrets, such as API keys and service accounts, which now outnumber human employees by 45 times. This imbalance has led to significant vulnerabilities, evidenced by incidents like the recent Dropbox breach.
By focusing on the lifecycle management of NHIs and the security of secrets, Entro aims to provide strategic security solutions that are becoming increasingly essential for businesses.
The platform developed by Entro offers comprehensive capabilities for managing and securing NHIs and secrets. It facilitates complete visibility, contextual understanding, and robust governance, enabling businesses to secure, monitor, and manage NHIs and secrets effectively from inception through to rotation.
Entro Security’s co-founder and CEO, Itzik Alvas, said, “Both IBM and Verizon reports ranked NHI and secrets breaches as the second most frequent attack and the costliest one, which is why interest in our platform has spiked by CISOs and security leaders. We are eager to use the Series A funding to continue to lead this vertical, serve our dozens of customers and scale.”
Or Avraham, Cloud Security Specialist at Regatta. “Entro has become an essential tool for our organization. The platform provides advanced capabilities such as removing secrets exposure and Non-Human Identity Detection and Response, integrating easily into our existing workflows. We highly recommend Entro to any modern company looking to secure and manage the lifecycle of their Non-Human Identities and Secrets, end-to-end.”
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
