Akeyless, a Tel Aviv, Israel-based SaaS-based secrets management platform for securing DevOps and IT workloads within hybrid and multi-cloud environments, announced that it raised $65 million in Series B funding, bringing the total funding to date to $80 million.
The round was led by NGP Capital, with participation from existing investors Team8 Capital and Jerusalem Venture Partners (JVP).
The funds will use to double the size of its global team, as well as expand and enhance its platform. This funding will enable Akeyless to expand its product, R&D, and customer success teams to help organizations strengthen their security posture.
"Existing secrets management solutions don't meet the current needs of enterprises," said Oded Hareven, CEO and co-founder of Akeyless. "Organizations are looking for an alternative to open-source secret vaults — that are far from free when you consider the extensive maintenance requirements — and commercial solutions with high licensing costs that are difficult to deploy and use. Secret management should reduce the attack surface but existing solutions only increase it by creating additional infrastructure for teams to secure and maintain."
Akeyless is the only platform to offer a true zero-knowledge Secrets Management as-a-Service solution. Akeyless centralizes the management and security of secrets across multi-cloud and DevOps environments.
The solution is maintenance-free with out-of-the-box plugins for existing IT, Dev, and security tools and supports enterprise-grade capabilities like disaster recovery, high availability, and global scale.
Company: Akeyless Security Ltd.
Round: Series B
Funding Month: November 2022
Lead Investors: NGP Capital
Additional Investors: Team8 Capital and Jerusalem Venture Partners (JVP)
Company Website: https://www.akeyless.io/
Software Category: Key Management Software
About the Company: Founded in 2019 by Shai Onn, Refael Angel, and Oded Hareven with the vision to protect and manage any secret in any environment, Akeyless is a Secrets Orchestration Platform, protecting and managing credentials, certificates, and keys used by machines, applications, and DevOps teams, in both hybrid and multi-cloud environments. It offers secrets management with extensions that provide secure remote access and data protection. Akeyless is a fast-growing cybersecurity company serving mid-to-large enterprises. The Akeyless SaaS platform is built on top of a unique KMS (Key Management System) patented technology that enables us to provide a true Zero Knowledge solution where even Akeyless can’t access the customers’ secrets and keys. The Akeyless platform is FIPS 140-2 and SOC 2 Type 2 certified. Akeyless was named by Gartner in several reports related to the growing need to secure machine and workload identities, Akeyless has been acknowledged by F500 customers and cybersecurity influencers as the leading solution for secret management in DevOps and cloud environments.