PlainID, a leading provider of cybersecurity, authorization, and identity access management (IAM) solutions, has raised $75 million in Series C funding, the company announced Tuesday.
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The round was led by New York-based global venture capital and private equity firm Insight Partners, with participation from Itai Tsiddon, Viola Ventures and all other existing investors. PlainID will use the funding to expand its Go-To-Market strategy, accelerate product development and further its vision of enabling organizations to simply and securely govern, administer and control who can access assets across their digital landscape.
Founded in Israel in 2014, PlainID delivers innovative solutions in the IAM and Cybersecurity space by providing a policy-based access management layer, using a real time decision engine to control who has access to what. Its Policy Manager and Partner Manager solutions have been developed to deliver instant and secure digital experiences, with authorized users accessing the data and applications they need without delays or compromising security.
"This major funding round is an important milestone for PlainID and will enable us to significantly scale our platform to meet the huge opportunities that exist within the IAM and Cybersecurity markets," commented Oren Ohayon Harel, co-founder and CEO of PlainID. "Our technology enables organizations to augment and consolidate their IAM policy management using a scalable runtime authorization engine and intuitive UI that allows them to adopt a cybersecurity mesh architecture, while securing their digital assets by centralizing the control of who can access what and when across the technology stack."
