We’re excited to announce that we’re leading Cerby’s $17M Series A.
Through the past decade, a number of factors have transformed how organizations manage identity and access within their IT environment. These include a rapid increase in cloud adoption, significant changes in how software is adopted by employees, a proliferation of BYO devices in the workplace, and a shift towards remote and hybrid work environments. These forces have created a vast array of nonstandard applications – including on-premise, OT, legacy, and cloud – not supported by common identity and security standards enterprises rely on to secure who has access to what resources within their business. As a result, these nonstandard applications sit outside of an enterprise’s identity perimeter resulting in significant security risks, lost productivity, and compliance overhead.
This problem is pervasive. Despite the fact that enterprises have invested significant resources to bring applications within their identity perimeter, 95% of the applications that employees use to do some part of their job remain unfederated. The security impact this can have for organizations is enormous. 52% of organizations have experienced a cybersecurity incident due to nonfederated applications. Additionally, large organizations spend more than 16K hours per year managing users in these applications costing millions of dollars in unproductive spend.
Cerby solves this problem. Using machine learning and robotic process automation, Cerby’s identity management platform is able to automate away the compliance overhead, lost productivity, and security risk of nonfederated applications. This approach goes against the convention of protocol based solutions, enabling orgs across a company to provision broader coverage and visibility to security threats stemming from unmanaged applications. If you are an organization with applications outside of your identity perimeter, Cerby offers a wide range of existing integrations along with tools to federate any web or kubernetes based application (see cerby.com/product/integrations). A number of enterprises, from startups to large corporations, are currently using Cerby for a wide range of security use-cases including protocol agnostic authentication, enterprise password management, and automated employee offboarding.
Cerby was founded in Sept 2020 by Belsasar ‘Bel’ Lepe (CEO) and Vidal González (CTO) and worked together for nearly 14 years. They’ve had success building great businesses including Ooyala and Wizeline. When we first met Bel and Vidal, we were immediately inspired by their vision and focus on eliminating identity-related challenges for modern enterprises. Cerby has built a holistic identity management system for enterprises designed to enable consistent and customizable management of every business identity and application. We believe every organization stands to benefit from Cerby’s platform and are thrilled to be supporting the team on their journey to revolutionize identity management in the enterprise.