Israeli cloud access risk security company Ermetic today announced it has closed a $17.25 million Series A financing round led by Accel, and with the participation of previous investors Glilot Capital Partners, Norwest Venture Partners and Target Global.
With offices in Tel Aviv and Palo Alto, Ermetic was founded by CEO Shai Morag, CPO Sivan Krigsman, CBO Arick Goomanovsky and CTO Michael Dolinsky. They have previously built successful enterprise security companies including Aorato acquired by Microsoft, Secdo acquired by Palo Alto Networks, and Sygnia acquired by Temasek. All four began their careers in cyber intelligence roles with the Israel military. The company only came out of stealth in May with the announcement of a $10 million financing round.
Ermetic will use the funds for R&D, and expanding sales, marketing and customer support initiatives for its Cloud Infrastructure Entitlements Management platform. Ermetic also announced that Accel partner Andrei Brasoveanu has joined the company’s board of directors.
Ermetic helps organizations enforce tighter, least privilege access policies across both user and machine identities to help prevent data breaches in AWS, Microsoft Azure and Google Cloud Platform.
Morag said, "Until now, customers have been using retrofitted tools to try to manage cloud infrastructure accounts and entitlements. Ermetic has developed a cloud native alternative that uses analytics to consistently manage permissions and enforce least-privilege access."
Brasoveanu added, "With the wide scale adoption of cloud services by organizations, protecting these infrastructures is critical. But managing entitlements is too massive and complex a problem to address manually or without the right tools. Ermetic has developed a purpose-built solution that addresses this large market opportunity, and is led by a proven management team." The Ermetic analytics-based solution prevents cloud data breaches by automating the detection and remediation of identity and access risks in Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) offerings from Amazon, Google and Microsoft. It automatically discovers all human and machine identities in the cloud, and analyzes their entitlements, roles and policies using a continuous lifecycle approach. By combining analytics with granular, full stack insight, Ermetic makes it possible to enforce least privilege access at scale even in the most complex cloud environments.
Published by Globes, Israel business news - en.globes.co.il - on July 29, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020