Veza, a San Francisco-based startup that specializes in identity security for cloud data, has successfully raised $108 million in its Series D funding round. The round was led by New Enterprise Associates (NEA), with strong participation from existing investors, including Accel, GV (Google’s venture fund), True Ventures, Norwest, Ballistic Ventures, J.P. Morgan, and Blackstone Innovations Investments. The company’s latest round of funding brings its total to $235 million since its launch in 2020.
Following the new investment, Veza’s valuation has surged to $808 million, reflecting its growing influence in the identity management and cybersecurity space.
Veza provides a software platform designed to manage identity security by mapping, visualizing, and enforcing data permissions across enterprise SaaS applications and cloud platforms. As more companies move their operations to the cloud, the need for robust identity and access management solutions has become crucial. Veza’s platform aims to address the limitations of traditional identity management systems, which were initially built for on-premises IT infrastructure and struggle to scale in the cloud. By providing a more unified approach to identity security, Veza helps businesses mitigate risks and secure sensitive data across cloud environments.
Tarun Thakur, Veza’s co-founder and CEO, argues that identity management is now the central battleground in cybersecurity. According to Thakur, nearly every major cybersecurity breach can be traced back to credential abuse, which is becoming an increasingly common vector for attacks. Thakur points out that traditional identity-access management (IAM) systems were not designed to handle the complexities of modern, cloud-based infrastructures.
Veza’s platform takes a more modern approach to identity security by assembling all user permissions and access events into a unified model.
This allows security teams to gain a comprehensive view of who has access to what and enables them to make faster and more granular decisions regarding permissions. The system’s real-time monitoring and data analytics capabilities allow security professionals to identify potential risks and make quick adjustments to mitigate threats.
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