Cerby, an identity security automation startup, has successfully raised $40 million in a Series B funding round. This significant investment was led by DTCP Capital, with participation from existing investors Okta Ventures, Salesforce Ventures, and Two Sigma Ventures. The funding will fuel Cerby's continued growth and development of its platform, which automates the management of non-standard and disconnected applications crucial for enterprise security.
Cerby's platform addresses the increasing challenge of securing the growing number of software-as-a-service (SaaS) applications, private network apps, and AI systems that often fall outside the scope of traditional identity management tools. By automating security workflows and integrating with existing enterprise systems, Cerby aims to simplify and enhance security for its clients, reducing reliance on manual processes and potential human error.
The company boasts a strong customer base, including several Fortune 100 companies, demonstrating the market demand for its innovative solution. This new funding will enable Cerby to expand its capabilities, enhance its platform, and further solidify its position as a leader in the identity security automation space.
The $40 million investment builds upon Cerby's previous $17 million Series A round, showcasing investor confidence in the company's vision and potential for significant growth within the rapidly evolving cybersecurity landscape.
