Venice Security has officially stepped out of stealth mode, announcing a significant $33 million investment to bolster its advanced privileged access management solutions. This marks a pivotal moment for the firm, which is dedicated to revolutionizing security protocols in complex enterprise environments.
Strategic Funding and Growth
Operating from hubs in Tel Aviv and New York, Venice Security, previously known as Valkyrie, has secured this funding to address the critical need for adaptive security measures. The recent Series A round, responsible for $25 million of the total, was spearheaded by IVP, with substantial backing from Index Ventures, Vine Ventures, Holly Ventures, and a group of angel investors.
Venice Security’s approach focuses on eliminating the default standing privilege, a move aimed at enhancing protection measures across diverse enterprise systems. Their platform offers centralized oversight across various access points, seamlessly integrating with cloud, on-premises, and Software-as-a-Service (SaaS) infrastructures.
Innovative Access Control Solutions
At the core of Venice Security’s offering is a system that intelligently identifies users and their entitlements, granting access on a need-only basis and swiftly revoking it when no longer necessary. This adaptive framework is designed to align with the fast-paced nature of modern business operations.
The platform is equipped with dynamic policies that modify in real-time in response to user behavior and environmental changes, all without requiring agents or proxies. This flexibility is crucial in maintaining robust security measures as organizational structures and technologies evolve.
Addressing Modern Security Challenges
Rotem Lurie, co-founder and CEO of Venice Security, emphasized the importance of responsive access control in today’s rapidly changing business landscape. He noted that the speed of operations, driven by technological advancements and AI, necessitates a security system that can keep pace with these developments.
Lurie, who has previously led product management at Axis Security, highlighted Venice Security’s mission to offer real-time access management solutions. By providing access only when needed and withdrawing it when unnecessary, the company aims to significantly mitigate security risks associated with static access privileges.
Venice Security’s latest funding round is part of a broader trend of increased investment in cybersecurity solutions, as evidenced by recent funding for companies like Cogent Security, VulnCheck, Nucleus, and GitGuardian, all of which are focused on addressing various aspects of enterprise security.
