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March 23, 2023, Los Angeles — The dynamic and intelligent privileged access management platform, Britive, has obtained USD 20.5M in Series B investment, the firm announced today. This cash will be used to support the platform’s exploding client expansion.

Pelion Venture Partners, Liberty Global Ventures, and company insiders Crosslink Capital and One Way Ventures were the investors in the Series B investment round. The investment is made during tremendous momentum, as seen by more than 300% yearly revenue growth driven by significant customer wins in the financial, retail, high-tech, and other sector verticals.

“We have been involved in corporate security for a long time and have seen the demand for Just-in-time (JIT) privileged access management develop. Few technologies, however, address the issues of reducing privilege sprawl in multi-cloud. We attentively followed Britive’s development and success over time in our hunt for a category pioneer. The kind of game-changing solution that Britive’s cloud-native platform for automating privileged identity management is, “Chris Cooper, General Partner at Pelion Venture Partners, stated.

“We are thrilled to have secured a Series B fundraising round with our insiders and new investors Pelion and Liberty Global. This financing is evidence of our platform’s ability to satisfy the cloud security requirements of Fortune 500 firms and medium-sized and big businesses “said Britive CEO Art Poghosyan. With this investment, Britive will be better able to assist the rising number of enterprise clients we serve by expanding our go-to-market and customer success capabilities.

The need for businesses to move towards a zero-trust security posture is growing because, according to Verizon’s most recent Data Breach Investigations Report, 82% of data breaches contain a human element, including using stolen credentials to access company IT networks. Elegant JIT access solutions that enable the development and scalability of privileged access systems across all cloud platforms are sought after by enterprises moving towards the cloud.

According to Christopher Key, a former chief product officer at Mandiant, “major cloud platform providers will continue to invest in the security of their platforms, but the need for a platform-agnostic privilege management solution like Britive will grow as more businesses adopt multi-cloud strategies to diversify risk and spur business growth” (acquired by Google Cloud).

A cloud-native security solution called Britive was created for the most demanding cloud-forward businesses. The Britive platform provides dynamic and intelligent privileged access administration solutions for multi-cloud settings, empowering teams in the cloud infrastructure, DevOps, and security domains. Our patent-pending system orchestrates permission for contemporary business cloud architecture and apps through comprehensive API-based connections. The Britive platform assists businesses in implementing best practices for cloud security, such as Just-In-Time (JIT) access and zero standing privileges (ZSP), to stop security breaches and business interruptions while boosting productivity and user efficiency. 

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


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