Israeli cloud security co Akeyless raises $14m

TripleW team Photo: Yuval Levy

The company offers secrets management, zero-trust access (PAM 2.0) and data protection (encryption, signing and KMS).

Israeli secrets management company Akeyless today announced that it has completed a $14 million Series A financing round led by Team8 and with participation from Jerusalem Venture Partners (JVP).

Tel Aviv-based Akeyless, which was founded by CEO Oded Hareven, president Shai Onn, and CTO Refael Angel, provides an innovative Secrets Orchestration Platform that successfully unifies several related use cases via a single solution. The company offers secrets management, zero-trust access (PAM 2.0) and data protection (encryption, signing and KMS), based on Akeyless DFC, the firm’s unique virtual HSM FIPS-certified technology.

Akeyless experienced major growth in 2020, andfwill use the funding to accelerate product development and growth of the world’s first SaaS-based unified vault, built for secrets management and zero-trust access.

Hareven said, "Our highly scalable enterprise-grade service is designed to serve an infinite number of customers, secrets and transactions, built on top of multi-region and multi-cloud operations."

Team8 Capital managing partner Liran Grinberg said, "Secrets management is a top priority for enterprises. But cloud providers’ offerings are limited, and Akeyless’s competitors’ solutions are expensive, incomplete and hard to maintain. Akeyless’s robust secrets management as-a-service doesn’t require an enterprise to install and maintain it, making it frictionless and affordable. As companies migrate to the cloud, the combination of secrets management and zero trust is critical - Akeyless applies advanced cryptography to make its SaaS offering resilient to attacks."

JVP general partner Yoav Tzruya said, "We’ve seen Akeyless demonstrate its value, providing a ubiquitous, zero-trust, secrets management as-a-service to large-scale customers over the last year. We believe that in joining forces with Team8 and the founders, we will be able to build Akeyless to its full potential as a dominant solution."

Published by Globes, Israel business news - en.globes.co.il - on April 28, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

TripleW team Photo: Yuval Levy
TripleW team Photo: Yuval Levy
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