Los Angeles, USA-based provider of intelligent identity and access governance solutions, Saviynt raised USD 205 million in growth financing. The company announced the fundraise on January 31, 2023. AB Private Credit Investors’ Tech Capital Solutions group led the financing for the company. 

Sachin Nayyar, the founder of the company, rejoins the company as the newly appointed Chief Executive Officer. 

Purpose of financing for Saviynt

With the latest financing from the growth round, the company seeks to meet the market’s growing demand for its converged identity platform.

Besides, Saviynt has plans to accelerate innovation.

What the company’s officials have to say

Sachin Nayyar, founder and CEO of the company, adds, “I am thrilled to return to Saviynt. Modern enterprises now realize they require a converged approach to identity security. It should be agile, cloud-based and will seamlessly scale to manage and mitigate risk. Saviynt anticipated this need when it was founded in 2011. Today, the company is positioned to meet this demand and accelerate our disruption of legacy identity security providers, including SailPoint. The new funding allows us to extend our Enterprise Identity Cloud platform advantage through continued innovation, enhance user experience, expand the platform to support emerging technologies such as OT and IoT and grow our technology partner ecosystem.”

In addition, Paul Zolfaghari, President, Saviynt, said, “Saviynt is proud of our leading product innovation and our customer-centric philosophy, which we will maintain in our relentless pursuit to deliver a best-in-class experience, highest ROI, and lowest TCO for our growing customer and partner ecosystem.”

What the investors have to add

Alex Barry, Head of Originations for AB Tech Capital Solutions, said, “We look forward to working with such a talented management team and prominent investor base at Saviynt.” 

In addition, Lewis Leavitt, Director for AB Tech Capital Solutions, further said, “The company’s strong financial performance and market opportunity supports our expectation for a long-term, successful relationship.”

What the customer has to say

Besides, Ricardo Lafosse, Chief Information Security Officer, Kraft Heinz, said, “Saviynt enabled Kraft Heinz Company to transform and modernize our enterprise identity security strategy. As one of the largest food and beverage companies in the world, we needed a partner that could overhaul our security posture with minimal disruption. Today, with Saviynt, we’ve created a dynamic approach to converged identity, one that gives us full access control, protection of critical assets and significant minimization of risk.”

About the company 

In 2010, Founders Atul Vij and Sachin Nayyar launched the company. Saviynt provides intelligent identity and access governance solutions to let enterprises secure applications in a single platform for the cloud.

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.

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