BalkanID, an Austin, Texas-based announced $5.75 million in seed funding and the launch of its artificial intelligence (AI)-powered Identity Governance and Administration (IGA) solution. IT and security teams to integrate the principle of least privilege into security and IT operations.
The company’s seed investors are Uncommon Capital, Afore Capital, Sure Ventures, and prominent technology executives including Rishi Bhargava, co-founder of Demisto (acquired by Palo Alto Networks); Ely Kahn, co-founder of Sqrrl (acquired by Amazon); John N. Stewart of Talons Ventures, former SVP, Chief Security and Trust Officer at Cisco; Clark Golestani, former EVP and CIO at Merck; Pat Condon, co-founder of Rackspace and Vivek Sodera, co-founder of Superhuman.
The money is being used to accelerate product and customer development.
Company: BalkanID, Inc.
Round: Seed Round
Funding Month: May 2022
Lead Investors: Uncommon Capital, Afore Capital, Sure Ventures, Rishi Bhargava, co-founder of Demisto Ely Kahn, John N. Stewart Clark Golestani, Pat Condon, and Vivek Sodera
Company Website: https://www.balkan.id/
Software Category: AI-Powered Identity Governance and Administration Solution
About the Company: BalkanID was founded by Subbu Rama, serial entrepreneur and previously co-founder at Bitfusion (acquired by VMware); Jeremy Patton, former engineering leader at Bitfusion, and Sameer Sait, former CISO at Amazon/Whole Foods Market. BalkanID has developed the industry’s first AI-Powered Identity Governance and Administration (IGA) platform built for cloud-native environments. Offering first-to-market functionality, it enables security and IT teams to identify and fix risky entitlements across their SaaS and public cloud estate. BalkanID’s patent-pending solution leverages data science to interrogate cloud environments for inherent and residual entitlement risks. Founded by cloud and security experts as well as a strong, serially successful entrepreneurial team, BalkanID enables IT and security teams to enforce the principle of least privilege while dynamically managing exceptions in a cloud-first world.