Cerby, an Alameda, CA-based comprehensive access management platform focused on nonstandard applications, raised $17 million in Series A funding, bringing its total raised to $32.5 million.
The funding round was led by Two Sigma Ventures, with significant participation from Outpost Ventures, Ridge Ventures, Founders Fund, Bowery Capital, AV8, Salesforce Ventures, Tau Ventures, Okta Ventures, Incubate Fund, and Ben Johnson, co-founder of Obsidian Security and Carbon Black.
The funds will be utilized to scale the company's go-to-market efforts, including expanding sales and marketing, accelerating innovation of its access management solution, enhancing customer support, investing in AI for faster integration development, and strengthening international teams.
Cerby's platform addresses a unique risk in the identity and access management (IAM) market related to nonstandard applications. These applications don't support common identity and security standards such as APIs, Single Sign-On (SSO), and protocols for automating employee onboarding and offboarding from critical applications.
"We're honored and deeply grateful for the support from our customers and investors. Their dedication to Cerby is dwarfed only by our commitment to close the growing identity gap that is fueled by the decentralization of work and technology spending," said Belsasar (Bel) Lepe, CEO and co-founder of Cerby. "Our platform is the only one that addresses nonstandard application risk across all deployment scenarios, including cloud, privately hosted, and on-premises, all of which are unsupported by traditional identity and security tools. Cerby's patent-pending access orchestration engine is the first and only to make passwordless authentication an immediate reality for nonstandard applications."
Founded in 2020, Cerby initially focused on managing application access for marketing teams and later expanded to include other sectors like sales, product, financial services, and healthcare applications, covering both public SaaS and privately hosted applications.
Company: Cerby, Inc.
Raised: $17.0M
Round: Series A
Funding Month: August 2023
Lead Investors: Two Sigma Ventures
Additional Investors: Outpost Ventures, Ridge Ventures, Founders Fund, Bowery Capital, AV8, Salesforce Ventures, Tau Ventures, Okta Ventures, Incubate Fund, and Ben Johnson, co-founder of Obsidian Security and Carbon Black
Company Website: https://www.cerby.com/
Software Category: Identity & Access Management (IAM) Software
About the Company: Cerby provides identity teams with a comprehensive access management platform for nonstandard applications. Harnessing the power of identity providers, Cerby removes the need for manual tools and compensating controls (like enterprise password managers) by automating everyday human security tasks based on single sign-on and lifecycle management cues from upstream identity providers. This allows Cerby to protect any application independent of standards support.
Source: https://www.prnewswire.com/news-releases/cerby-announces-17-million-in-series-a-funding-to-secure-nonstandard-applications-301905866.html