Digital ID protection firm Silverfort banks a $116M series D

Digital identity and access management provider Silverfort says it has closed a $116 million series D, a sum equal to a little more than half of all the money the software firm based in Israel has raised to date.

U.S.-based Brighton Park Capital, a private equity and venture capital firm, led the round, which raised its total investment funding to $222 million, according to Silverfort.

Also participating were Citi Ventures, General Motors Ventures, Singtel Innov8, Acrew Capital, Greenfield Partners, Maor Investments and Vintage Investment Partners, according to Crunchbase.

Citi and Greenfield participated in a $65 million series C funding in 2022. Silverfort closed $30 million series B round in 2020.

The company’s annual recurring revenues grew by more than 100 percent year over year for the three previous years ending in December.

Having considered the history of IT infrastructure innovations, Silverfort executives saw that identity protection has to be horizontal to succeed.

In their funding announcement, they say the IAM landscape is siloed, which means a company’s data, residing on premises and in multiple cloud services, is subject to just as many security and management policies.

Silo strategies also can’t always cover weak data security links, links like databases, legacy IT systems and command-line interfaces, according to Silverfort.

The company says its service creates a “single layer that operates on top of all the distributed ‘silos’” of enterprise digital identity infrastructure. Its platform offers adaptive and multi-factor authentication.

Silverfort is currently hiring for numerous positions in countries around the world.

Article Topics

digital identity  |  funding  |  identity access management (IAM)  |  Silverfort