Stack Identity, backed by cybersecurity industry veterans, is a patent-pending algorithm that detects and eliminates unauthorized and invisible shadow access to prevent cloud data breaches.
It is a Silicon Valley startup automating identity and access management governance. This is to identify and also eliminate cloud data threat vectors. The company today has announced the closing of a $ 4 million seed funding round. Benhamou Global Ventures and WestWave Capital led it.
In the evolving stage of cloud-based IAM, businesses cannot always protect sensitive data. This is especially true if they do not know who has access, for how long, and why. Stack Identity was created to solve this problem. The company wants to make it easier for consumers to protect sensitive data stored in the cloud. This can be done by eliminating applications and services from unauthorized access and preventing unauthorized data sharing and exfiltration. Protection of sensitive data in a complex data-sharing place can only be possible by understanding and addressing the problems in the access layer.
The COO of Stack Identity, Ambrish Deshpande, said it was created to address shadow access problems, which are the unmonitored, unauthorized, and invisible access patterns to cloud data. Businesses of all sizes will now benefit from automated breach detection of Stack Identity. It leverages advanced heuristics that detects and removes bad actors from cloud environments.
India is a critical market for the startup. And it also has a vast talent pool to support its global customer base. The company has a huge number of customers from industry-leading companies in both India and North America.
Additional investors in the funding round included Plug and Play and other important cybersecurity investors. The investment capital shall enable the startup to solve the different challenges as companies accelerate the development of AI-powered and data-centric applications. It shall use the funds to strengthen go-to-market strategies, scale product development, and expand customer reach.
Today, to eliminate Shadow Access, as SecOps and DevOps battle for Cloud Access Control, security concerns become highly significant as more enterprises move data and operations into the cloud. The biggest challenge for companies is ensuring that authorized identities have access to critical and sensitive data while detecting and eliminating threats from unidentified users.
Through its Breach Prediction Index algorithm, Stack Identity lessens the risk of cloud vulnerabilities. It also improves compliance, IAM audits, and governance. The Breach Prediction Index enables its customers to prioritize risk and impact.
Westwave Capital’s General Partner, Gaurav Manglik, said they are proud to co-lead the investment in the startup. He further said Venkat Raghavan and the team are tackling a serious security problem. They believe in the expertise of the team in security.
Partner at Benhamou Global Ventures, Yashwanth Hemaraj, said that Stack Identity represents the winning formula they look for in their deal evaluation frameworks. For example, the combination of team and technology. He believes the startup can emerge as a future market leader in identity and access management as companies accelerate digital transformation.
About Stack Identity
Stack Identity helps and transforms cloud IAM operations. This is to continuously eliminate, detect, and govern unmonitored, unauthorized, and invisible shadow access. It does so via its patent-pending algorithm, called Breach Prediction Index. Using the Breach Prediction Index, its customers can detect the two per cent toxic combinations impacting 90 per cent of data assets.