Financing round led by Crosslink Capital underscores need for organizations to secure growing cloud-native technology stack from data loss and account takeovers
LOS ANGELES—MAY 19, 2021— Britive, a cloud-native dynamic access management platform, today announced it has raised $10 million in a Series A funding round led by Crosslink Capital with participation from seed round investors Upfront Ventures and One Way Ventures.
“Security teams today have to deal with a dizzying array of security tools from CASBs, PAMs, IGAs, CIEMs, SSPMs, and more—and they still lack insight and control over human and machine identities and permissions in cloud platforms and applications,” said Art Poghosyan, CEO of Britive. “This leaves organizations open to breaches often caused by privilege misconfigurations, overly broad permissions, and abuse of privileged credentials. Britive’s approach of combining Just-in-Time permissioning with secrets governance capabilities dramatically improves cloud security by minimizing a company’s attack surface.”
Britive’s Dynamic Permissioning Platform takes the complexity and time out of securing identities and permissions across multi-cloud environments, including AWS, Azure, GCP, Snowflake, Salesforce, ServiceNow, Oracle Cloud. The platform provides companies with the ability to automatically grant Just-In-Time permissions, auto-expire permissions, enforce least privilege access, right-size broad permissions and more.
Poghosyan adds, “Another trend we’re seeing is the rise of DevSecOps across the enterprise, which is also accelerating due to high profile attacks like SolarWinds. This close relationship between security and cloud development experts requires that security be extended into CI/CD processes. This is precisely what we enable for DevSecOps teams—without adding additional complexity or management overhead.”
The funding comes on the heels of significant momentum for Britive, marked by 300 percent year-over-year growth. Britive already serves a number of high-growth companies and Fortune 500 firms across a variety of industries.
“Britive’s cloud-native privileged access solution is a game changer for our DevSecOps initiatives,” said Martin Mkrtchian, VP of Information Security, Vubiquity. It has enabled us to provide just-in-time temporarily elevated privileges and secret key rotations, while maintaining the principle of zero trust security.”
The company will use the new capital to accelerate go-to-market, support innovation and product development, and enable the further protection of highly-complex cloud platforms and applications from data loss and account takeovers.
“With no end in sight for high profile breaches, cloud security continues to be a top priority for enterprises around the world,” said Matt Bigge, Partner, Crosslink Capital. “The Britive Platform is truly revolutionary in that it enables organizations to migrate to a DevSecOps model by baking security into their CI/CD processes, while accelerating cloud app development. We’ve been following their progress and are excited to join Art and his team at this exciting time in their growth trajectory.”
Britive (www.britive.com) is a cloud-native security solution built for the most demanding cloud-forward enterprises. The Britive platform empowers teams across cloud infrastructure, DevOps, and security functions with dynamic and intelligent privileged access administration solutions for multi-cloud environments. Using deep API-based integrations, our patent-pending technology orchestrates permissioning for the modern enterprise cloud infrastructure and applications. The Britive cloud access management platform helps organizations implement cloud security best practices like Just-In-Time (JIT) access and zero standing privileges (ZSP) to prevent security breaches and operational disruptions, while increasing efficiency and user productivity. Customers include medium to large businesses and Fortune 500 enterprises across healthcare, automotive, retail, media & entertainment, and other industries. Britive was founded by security industry veterans with a track record as successful entrepreneurs and innovators.