Britive, the California-based provider of cloud-native security solutions for the most demanding cloud-forward enterprises, announced that it has raised $5.4 million in late seed funding led by Upfront Ventures.
Kara Nortman, Partner at Upfront Ventures, joins the Britive board in conjunction with the investment. Co-investors in the round include venture firms OneWay and SmartGate, Andrew Peterson, CEO of Signal Sciences and Dave Cole, CEO of Open Raven.
CEO Artyom Poghosyan and CTO Alex Gudanis founded Britive in 2018 to challenge inertia within the security solutions industry, which was slow to react to the new multi-cloud environments of modern enterprises.
“After 20 years in the industry, I can say that legacy security solutions are simply not agile or scalable enough for today’s multi-cloud environments. It’s not about improving what exists, it’s about creating an entirely new platform of operations that’s cloud-first.” says Poghosyan. “Today’s businesses need to operate at digital speed to stay competitive and to achieve that they need their security solutions to be as agile as cloud, with a single view and set of controls across various cloud systems and apps.”
Britive plans to use the current funding to further development of its platform technology for monitoring, analyzing, and dynamic orchestration of access privileges across cloud applications and infrastructure, as well as to rev up its go-to-market capability.
“As crazy as it sounds, cloud security, and access management specifically, is among the most valuable and most exciting wedges into a sector I’ve seen in my career as a VC,” said Kara Nortman, Partner at Upfront Ventures. “Art and his team have incredible early traction with deep relationships in the space, and I’m confident in their ability to build a generationally transforming business. We couldn’t be more thrilled to work with them on this journey.”
“Multi-cloud deployments are quickly becoming an accepted reality in today’s organizations. As organizations scale, privileged access management can quickly become a challenge. To effectively protect against insider and outsider threats, a major shift in our approach is needed,” said Yassir Abouesselham, Chief Information Security Officer of Splunk and member of the Britive advisory board. “Britive’s cloud-native platform significantly reduces the attack surface, by enabling cloud application and infrastructure users to access the resources they need, when they need them and only for the duration of the transaction. As an information security practitioner and a strong believer in the role of IAM in mitigating cybersecurity risks, I am thrilled to contribute to Britive’s vision to disrupt cloud Privileged Access Management.”
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