Digital identity security company Linx gets $33M in funding

New York-based Linx Security has secured $33 million in funding to accelerate the development of its digital identity security system. Index Ventures and Cyberstarts led the round, which included contributions from Cerca Partners, Knollwood Investment Advisory and entrepreneurs Mickey Boodaei, Rakesh Loonkar, Assaf Rappaport and Yinon Costica. Crunchbase identifies the funding as a series A round.

The company underlines the significance of a robust identity security system by citing the sobering statistics from a market report on identity-related security breaches from Verizon and the Identity Defined Security Alliance. The identity security software brings together identity, security, and IT ops teams, the company says.

Linx aims to overcome the limitations of existing identity management tools by offering identity mapping, the company says. The system gives organizations control over the entire identity lifecycle by monitoring the relationships between users, their identities, and the permissions required to access company data and resources.

“Our platform empowers organizations to navigate the complexities of identity security and governance with confidence, ensuring they stay ahead of evolving threats and regulatory requirements,” says Israel Duanis, chief executive officer and co-founder of Linx Security.

To showcase the functionality of its software, Linx identified unregulated access to a client’s code repository. This involved identifying user accounts and their corresponding owners, evaluating permissions, and assessing associated risks. The software detected that a former employee still had active and unsecured access.

“Identity is the top threat vector for the modern enterprise. Identity teams under the CISO, are struggling to cope with a growing number of tasks and suffer from antiquated legacy solutions,” says Gili Raanan, founder of Cyberstarts.

Coming out of stealth mode, the team led by Israel Duanis and Niv Goldenberg (chief product officer) is already working with companies across financial services, retail, real estate, and technology.

Article Topics

cybersecurity  |  digital identity  |  funding  |  identity access management (IAM)  |  identity management  |  Linx