Authorization and IAM Company PlainID Raises $75 Million in Series C Funding
PlainID, a provider of authorization and identity and access management (IAM) solutions, today announced that it has raised $75 million in Series C funding, which brings the total raised to $96 million.
The funding round was led by New York-based Insight Partners, with participation from all previous investors, including Itai Tsiddon and Viola Ventures.
Founded in 2014, the Tel Aviv-based PlainID provides organizations with a policy-based authorization solution that seeks to bring together IAM and cybersecurity with a real-time decision engine, all in a single, intuitive interface.
According to PlainID, its Policy-Based Access Control (PBAC) technology can solve the challenges that businesses face when implementing IAM in their environments.
The company also provides Policy Manager and Partner Manager solutions, to help organizations easily provide users with access to only the data and applications they need by adding advanced authorization capabilities to new and legacy technologies.
PlainID says the new funding will help it accelerate product development and expand its go-to-market strategy.
“This major funding round is an important milestone for PlainID and will enable us to significantly scale our platform to meet the huge opportunities that exist within the IAM and Cybersecurity markets,” commented Oren Ohayon Harel, CEO and co-founder of PlainID.