– USA, CA – Ermetic, the cloud access risk security company, today announced it has closed a $17.25M Series A round of financing led by Accel, and supported by Glilot Capital Partners, Norwest Venture Partners and Target Global.
Concurrent with the financing, Andrei Brasoveanu, Partner at Accel, has joined the board of directors.
“With the wide scale adoption of cloud services by organizations, protecting these infrastructures is critical. But managing entitlements is too massive and complex a problem to address manually or without the right tools,” said Andrei Brasoveanu, Partner at Accel. “Ermetic has developed a purpose-built solution that addresses this large market opportunity, and is led by a proven management team. I look forward to working with the team to quickly establish Ermetic as a leader in this space.”
Ermetic will use the funds to scale research & development, go-to-market, sales, marketing and customer support initiatives for its Cloud Infrastructure Entitlements Management platform.
Ermetic helps organizations enforce tighter, least privilege access policies across both user and machine identities to help prevent data breaches in AWS, Microsoft Azure and Google Cloud Platform.
“Until now, customers have been using retrofitted tools to try to manage cloud infrastructure accounts and entitlements. Ermetic has developed a cloud-native alternative that uses analytics to consistently manage permissions and enforce least-privilege access,” said CEO, Shai Morag. “We are pleased to welcome Accel as an investor and Andrei Brasoveanu to our Board. This capital infusion will help us capture a large share of the emerging market known as Cloud Infrastructure Entitlements Management.”
The Ermetic analytics-based solution prevents cloud data breaches by automating the detection and remediation of identity and access risks in Infrastructure as a Service and Platform as a Service offerings from Amazon, Google and Microsoft. It automatically discovers all human and machine identities in the cloud, and analyzes their entitlements, roles and policies using a continuous lifecycle approach. By combining analytics with granular, full stack insight, Ermetic makes it possible to enforce least privilege access at scale even in the most complex cloud environments.
About Accel
Accel is a global venture capital firm that partners with exceptional founders with unique insights, from inception through all phases of private company growth. Arista, Atlassian, Braintree, Celonis, CrowdStrike, Deliveroo, DJI, Dropbox, Etsy, Facebook, Flipkart, Freshworks, Jet, Kayak, Lynda.com, Qualtrics, Rovio, Slack, Snyk, Spotify, Supercell, Swiggy, Tenable, UiPath, and Venmo are among the companies the firm has backed over the past 35+ years. The firm seeks to understand entrepreneurs as individuals, appreciate their originality and play to their strengths. Because greatness doesn’t have a stereotype.
For more information: https://www.accel.com/
About Ermetic
Ermetic enables enterprises to protect cloud infrastructures from access-related risks and misconfigurations by maintaining continuous visibility into identities, their entitlements and data usage. By combining analytics with granular, full-stack insight, Ermetic makes it possible to enforce least privilege access at scale even in the most complex cloud environments. The company is led by proven technology entrepreneurs whose previous companies have been acquired by Microsoft, Palo Alto Networks and others. Ermetic has received funding from Accel, Glilot Capital Partners, Norwest Venture Partners and Target Global.
For more information: https://ermetic.com/
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