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SGNL snags $30M for a new take on ID security based on zero-standing privileges
- Identity security is crucial in the cybersecurity landscape, considering leaked and spoofed credentials expose vulnerabilities.
- Startup SGNL innovates with a zero-standing privilege approach for secure app access, raising $30 million in a Series A round led by Brightmind Partners.
- Microsoft (via M12), Cisco Investments, and Costanoa are among the investors in SGNL, bringing its total funding to $42 million.
- SGNL serves major enterprise clients, improving access management across cloud environments and addressing breaches like those at MGM and T-Mobile.
- SGNL founders Scott Kriz and Erik Gustavson previously co-founded Bitium, acquired by Google, recognizing the need for enhanced identity security solutions.
- The platform focuses on closing off access when circumstances change, leveraging CAEP and a rich context approach for robust access management.
- CAEP, endorsed by the OpenID Foundation, and the innovative data fabric design set SGNL apart in providing dynamic access policies and conditions.
- SGNL's use of AI in managing the data fabric enables companies to simplify access policies for large employee bases and numerous roles.
- Competitors in the zero-standing privilege space include CyberArt and SailPoint, but SGNL's expertise and platform uniqueness attract investors like Brightmind Partners.
- SGNL's founders' industry experience and understanding of enterprise needs position them to establish a significant market presence with their innovative identity security platform.
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