NEW YORK, 28 June 2023 – With involvement from current investors Bessemer Venture Partners and F2 Venture Capital, Astrix Security has raised USD 25 million in Series A funding, the enterprise’s trusted solution for protecting non-human identities. Thanks to this latest investment, Astrix now has over USD 40 million in funding overall.
The enterprise’s connectivity to third-party applications is expanding due to the increased adoption of automation and generative AI initiatives. As a result, more high-profile cyberattacks have been against CircleCI, Mailchimp, GitHub, Microsoft, and Slack that target non-human app-to-app connections (via API keys, access tokens, service accounts, etc.).
Despite the market’s financial uncertainty, Astrix is gaining ground as a leader in securing this expanding threat vector, growing exponentially yearly. In addition to being named a finalist in the 2023 RSA Innovation Sandbox competition, the business recently gained Figma, Priceline, Bloomreach, Rapyd, and many other companies to its list of clients. The company increased its employment by twofold and plans to use the funds to keep growing its staff in Tel Aviv and U.S. offices, including the research team that recently identified GhostToken, a 0-day severe vulnerability in the Google Cloud Platform.
Alon Jackson, CEO and co-founder of Astrix said, “We founded Astrix to close a significant and unaddressed security gap by allowing security teams to extend access management and threat detection to the non-human identity layer.” It’s astonishing to see how quickly security teams have embraced Astrix and how crucial its features have become to their standard toolkit. We’re excited to keep growing our alliances and capabilities so businesses can fully benefit from third-party services, including Gen-AI apps, without sacrificing security.
The workplace environment is backed by a huge web of connected apps, with 10,000 connections on average per 1,000 employees. Furthermore, it is practically impossible to have visibility and governance into every third-party link because AI-powered apps are downloaded 1506% more frequently than they were the previous year and are commonly connected by employees across departments without the security team’s knowledge. Astrix is the first solution to focus on securing app-to-app connections, whereas other solutions only secure user connections. This allows businesses to ensure their critical systems and outside services are securely connected to one another.
Astrix Security, a Tel Aviv-based company founded in 2021, assists businesses prioritizing the cloud in defending against a new wave of supply chain assaults. Astrix offers comprehensive visibility into all non-human connections and identities to stop supply chain attacks, data leaks, and compliance violations. It automatically detects and remediates connections between overly privileged, pointless, unruly, or malicious apps.
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