Authorisation management platform PlainID has received $11 million in a Series A funding round.
The round, led by Viola Ventures with participation from Capri Ventures, Springtide Ventures and iAngels, brings total known investment in the company to $13 million.
“The authorization landscape is changing and understanding who can access what and when becomes a critical question, that requires a good answer,” said Oren Ohayon Harel, PlainID’s CEO and co-founder. “A simplified authorization platform meets the intricate demands of a growing enterprise by maximizing security and minimizing anxiety.”
PlainID’s platform allows enterprises to configure and manage authorisation policies in real time, and can be used in cloud, mobile and on-premises applications. Its aim is to provide a simple and accessible interface which allows non-technical staff to understand and participate in the authorisation process.
The authorization landscape is changing and understanding who can access what and when becomes a critical question, that requires a good answer.
– Oren Ohayon Harel, CEO and co-founder, PlainID
“PlainID provides a new generation tool allowing managers to gain control and flexibility in managing authorization across their organizations while minimizing dependency on IT specialists,” said Marek Jablonsky, Executive Director at Springtide Ventures. “Importantly, the solution also addresses regulatory requirements and provides the necessary “peace of mind” to the executives when it comes to auditable robustly process-based IAM. Building on their hands-on experience from their previous roles as IT security executives with large enterprises the founders have managed to develop a largely superior solution with a potential to disrupt and redefine the category.”
PlainID says that it will use the $11 million investment to expand its sales and marketing operations in the US, as well as growing its customer support and research and development teams.
“Run-time authorization is becoming more complex in an era of Enterprise automation. Current solutions no longer meet the changing requirements of hybrid IT environments, API collaboration and the introduction of more robotic process automation solutions,” said Omry Ben David, Partner at Viola Ventures. “We believe that externalized fine-grain authorization will become the next large category in IAM, in a similar way to how Okta built the authentication category by externalizing the process and offering a single sign-on solution.”
