Protecting the Future: Cerby Raises $17M to Safeguard Nonstandard Applications

Alameda-Based Startup Cerby Raises $17 Million in Series A Funding

Introduction

Alameda, California-based startup Cerby has recently announced that it has raised $17 million in Series A funding to further develop its comprehensive access management platform for nonstandard applications. The round was led by Two Sigma Ventures with participation from Outpost Ventures, Ridge Ventures, Founders Fund, Bowery Capital, AV8, Salesforce Ventures, Tau Ventures, Okta Ventures, Incubate Fund, and Ben Johnson, co-founder of Obsidian Security and Carbon Black. Cerby aims to address the growing cybersecurity risks posed by nonstandard applications that do not support common identity and security standards.

The Need for Nonstandard Application Security

Nonstandard applications, which do not support common identity and security standards like APIs, Single Sign-on (SSO), and protocols for automating employee onboarding and offboarding, have become a significant cybersecurity risk for organizations. A study by the Ponemon Institute found that 52% of organizations have experienced a cybersecurity incident due to their inability to secure nonstandard applications. As businesses increasingly rely on a diverse range of applications, there is a growing need for a fully connected identity mesh that can work with all types of applications, including on-premises, OT, legacy, and cloud-based applications.

The Unique Solution offered by Cerby

Cerby‘s access management platform addresses the risks associated with nonstandard applications across all deployment scenarios. Unlike traditional identity and security tools, Cerby‘s patent-pending access orchestration engine enables passwordless authentication for nonstandard applications. This innovative approach eliminates the need for manual tools and compensating controls, streamlining everyday human security tasks based on single sign-on and lifecycle management cues from upstream identity providers. Cerby‘s platform automates manual tasks such as offboarding and 2FA enrollment, providing identity teams with deep visibility and control over employee-onboarded applications.

The Importance of Funding for Cerby

This recent round of funding, totaling $17 million, brings the total funding for Cerby to $32.5 million. The funds will be used to scale Cerby‘s go-to-market efforts, including expanding sales and marketing, accelerating innovation of its access management solution, investing in generative AI to enhance development speed and maintenance of integrations, and reinforcing international teams and customer support. The investment also highlights the need for Cerby‘s solution in the financial services sector, which heavily relies on nonstandard applications for its operations.

Industry Experts and Partners Recognize Cerby‘s Potential

Industry experts and partners have expressed confidence in Cerby‘s ability to transform how businesses secure and manage access to critical applications and infrastructure. Villi Iltchev, Partner at Two Sigma Ventures, believes Cerby has the potential to revolutionize how businesses manage and protect nonstandard and disconnected applications. David Dubick, Partner at Outpost Ventures, emphasizes the significance of Cerby‘s position at the forefront of identity management for nonstandard applications and applauds their challenge to the status quo.

About Cerby

Cerby provides identity teams with a comprehensive access management platform specifically designed for nonstandard applications. By harnessing the power of identity providers, Cerby automates everyday human security tasks based on single sign-on and lifecycle management cues. This eliminates the need for manual tools and compensating controls and allows Cerby to protect any application, regardless of standards support. The platform’s patent-pending access orchestration engine also enables passwordless authentication for nonstandard applications. Cerby‘s platform has already helped clients like L’Oréal, Fox, Colgate-Palmolive, Dentsu, and Televisa detect nonstandard apps and guide business users to more secure alternatives, all while maintaining an umbrella of identity provider control.

Looking Ahead

Cerby‘s innovative approach to managing access to nonstandard applications has garnered significant interest and support from customers and investors. As the decentralization of work and technology spending continues to fuel the growing identity gap, Cerby‘s solution becomes increasingly vital. With the newly raised funds, Cerby is poised to further develop its platform, expand its customer base, and solidify its position as a leader in nonstandard application security.