Cybersecurity startup Ploy has raised $3.33 million (£2.5 million). Osney Capital led the funding round. The company will use the capital to develop its product and expand its go-to-market efforts globally. Ploy provides automated identity security. It addresses the rise in identity-related cyberattacks, which now cause 80% of data breaches. The platform automates processes like employee onboarding, offboarding, and access reviews. This helps companies that use many different cloud and SaaS applications. Ploy's system replaces legacy tools that are slow and designed for on-premises environments. The platform can be set up in under 20 minutes. It also features an AI assistant called Luna to help security teams spot anomalies and make access decisions. The company was founded in 2023 by CEO Jacob Prime and CTO Harry Lucas. Both are former executives from data security firm Metomic Ltd. Ploy reports it has already secured over one million access entitlements for its customers. Its client list includes Payfit, ComplyAdvantage, and Liberis Capital. Superseed, Tiny.vc, and Rule30 Ventures also participated in the round.
Ploy Raises $3.33M for Automated Identity Security
Cybersecurity startup Ploy has raised $3.33 million (£2.5 million). Osney Capital led the funding round.
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