Israeli co Linx Security raises $33m

Israeli identity security and governance solutions company Linx Security has emerged today from stealth and announced the completion of a $33 million financing round led by Index Ventures and Cyberstarts, with investors including entrepreneurs Mickey Boodaei (Imperva, Trusteer, Transmit), Rakesh Loonkar (Trusteer, Transmit), Assaf Rappaport, and Yinon Costica (Wiz, Adallom), as well as Cerca Partners and Knollwood Investment Advisory.

Founded in 2023 by CEO Israel Duanis and CPO Niv Goldenberg, Linx Security seeks to redefine how organizations secure and manage identities across complex digital landscapes. The founders are cybersecurity executives with over 25 years experience. Before founding Linx, Duanis cofounded Fleetonomy, an AI-driven fleet management solutions platform acquired by Via in 2020, and led the threat prevention line of business at CheckPoint Security. Goldenberg was VP product at Mickey Boodaei’s Transmit, which during Goldenberg’s tenure doubled ARR.

Duanis said, "Identity security is one of the urgent cybersecurity pain points organizations struggle to address in today’s fast-paced business environment. Our platform empowers organizations to navigate the complexities of identity security and governance with confidence, ensuring they stay ahead of evolving threats and regulatory requirements". Linx Security's technology eliminates the blind spots and gaps inherent in traditional identity tools. Linx maps and monitors the relationships between users, their identities, and the access and permissions they have to company data and resources, and uses advanced analytics and automation to enable organizations to shrink their attack surface, achieve compliance, and streamline operations across the entire lifecycle of users and identities. In one case, Linx detected ungoverned access to a client's code repository. By identifying all accounts and linking them to their human owners, Linx assessed each user's permissions and risk level. This revealed a former employee's unsecured access, which Linx promptly revoked, reducing the organization's attack surface and improving security.

Cyberstarts founder Gili Raanan said, "Identity is the top threat vector for the modern enterprise. Identity teams under the CISO, are struggling to cope with a growing number of tasks and suffer from antiquated legacy solutions. The highly motivated and accomplished Linx team will undoubtedly leverage their vast experience, creativity, and vision to tackle that."

Published by Globes, Israel business news - en.globes.co.il - on July 22, 2024.