Astrix Security, the Enterprise Solution for Securing Digital Identities, Raises $25M in Series A Funding

Astrix Security, the enterprise’s trusted solution for securing non-human identities, has secured $25 million in Series A funding led by CRV with participation from existing investors Bessemer Venture Partners and F2 Venture Capital.

This new investment brings Astrix’s total funding “to almost $40 million.”

Fueled by the increased adoption of automation and generative AI initiatives, the enterprise’s connectivity to third-party applications is growing, “resulting in an increase in cyber attacks targeting non-human app-to-app connections (via API keys, access tokens, service accounts, etc.) – as seen in high profile attacks against CircleCI, Mailchimp, GitHub, Microsoft, and Slack.”

Despite financial instability within the market, Astrix claims it is experiencing year-over-year growth and momentum as a key player focused on securing this growing threat vector.”

The company has recently “added Figma, Priceline, Bloomreach, Rapyd and many others to its customer roster and was recognized as a finalist in the 2023 RSA Innovation Sandbox contest.”

The business has also “doubled its headcount, and will use this funding to continue expanding the team in both the U.S. and Tel Aviv offices, including its research team who recently discovered GhostToken, a critical 0-day vulnerability in the Google Cloud Platform.”

Alon Jackson, CEO and co-founder at Astrix, said:

“We founded Astrix to close a significant and unaddressed security gap, by allowing security teams to extend access management and threat detection to the non-human identity layer. It’s amazing to experience the tremendous adoption by security teams, as well as see Astrix’s capabilities become essential to their every-day security arsenal. We look forward to continuing to expand our capabilities and partnerships, allowing organizations to truly reap the benefits of third-party services, especially Gen-AI apps, without compromising security.”

The enterprise environment depends “on a vast web of interconnected apps, supported with an average of 10,000 app-connections for every 1,000 employees.”

More so, with AI-powered apps “being downloaded 1506% more than last year, and often connected by employees across departments without the security team’s knowledge, having visibility and governance into every third-party connection is virtually impossible.”

While existing solutions focus on securing user-connections, Astrix is the first solution to focus on securing app-connections, “allowing the enterprise to ensure their core systems are securely connected to each other and to third-party services.”

James Green, General Partner at CRV, said:

“As a growing threat vector, there has been a shift in the market to focus on third-party connectivity. Astrix caught our eye for their innovative approach to extending IAM and threat detection to all non-human identities, giving unprecedented capabilities to manage the growing API-based third-party attack surface across all environments.”

The Astrix Security Platform is reportedly “the first solution to provide holistic visibility into all non-human connections and identities.”

Astrix provides “a consolidated, comprehensive view of all the internal and third-party integrations within a business environment, as well as all access keys in use (i.e., API keys, OAuth tokens, service accounts, and webhooks) and the permissions and level of access granted to each one.”

With Astrix, businesses can “extend their identity threat detection and response capabilities to non-human identities by continuously running behavioral analysis of internal and third-party apps connected to core SaaS, IaaS and PaaS systems to detect anomalies that may indicate compromised access tokens and automatically remediate risky connections.”

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