Apono, a provider of privileged access for the cloud, today announced the successful completion of its Series A funding round, raising $15.5 million to bring its total raised to $20.5 million. The funding round was led by New Era Capital Partners, with participation from Mindset Ventures, Redseed Ventures, Silvertech Ventures, initial seed investors, and others. Funds are earmarked for product development and growth.
Apono said it is committed to delivering capabilities that meet the dynamic needs of modern enterprises and support the development, operations and security teams responsible for securing and maintaining cloud environments they depend on. Apono provides organizations with a deep understanding of privileged access within their cloud environments, enforces security guardrails, and leverages AI-driven least privilege and anomaly detection capabilities to enhance security measures while providing a frictionless experience for end-users.
“Today, more than ever, we are seeing a shift in the identity space,” said Apono’s co-founder and CEO Rom Carmel. “Privileged access management and identity governance are converging, driving the need for more holistic identity and access security solutions, particularly within today’s dynamic cloud environments in which modern businesses operate. As we continue our rapid growth, this funding will enable us to maintain our momentum and continue delivering cutting-edge solutions to our clients.”
With this investment, Apono is set to significantly expand its US sales and marketing teams, while also expanding investments in research and development. Customers can anticipate new AI-based access product offerings and improved support from Apono’s sales engineering and customer success teams, which have tripled in size in the US. Additionally, to meet the needs of new enterprise customers, the company has added enterprise support teams who will deliver the scale of service today’s enterprises require.
“Apono’s innovative solution addresses critical challenges in the cloud access management space, providing organizations with robust, scalable solutions,” New Era Capital Partners’ partner Ziv Cohen said. “This investment reflects our confidence in Apono’s vision and their ability to lead the market with cutting-edge technology and exceptional customer focus”
“In response to the growing complexity and security threats associated with cloud adoption, forward-thinking organizations are increasingly aligning the goals and workflows of their security and engineering teams,” said Katie Norton, research manager, DevSecOps and software supply chain security at IDC. “Cloud identity and privilege management are central to these alignment efforts. Apono’s approach to cloud privileged access management aligns with these goals and helps bridge the gap between security and engineering teams.”