Cybersecurity start-up Akeyless raises USD 65 million for secrets management platform
Israeli start-up Akeyless, which develops a SaaS-based secrets management platform for securing DevOps and IT workloads, has this week completed a USD 65 million in Series B funding, led by NGP Capital, with the participation of existing investors Team8 and JVP.
Herzog advised the company on the financing, which brings the company’s total funding to date to USD 80 million. Partners Yoni Frider, Gal Eschet and Raz Ofer, associate Chen Porian and intern Rotem Sontag advised.
The Israeli startup’s platform centralizes the management and security of secrets across multi-cloud and DevOps environments and makes the secrets inaccessible to anyone besides the customer.
There’s been rapid growth in recent years in the adoption of cloud services and modern DevOps processes, necessitating a new approach to how organizations manage their secrets (e.g. credentials, certificates, and keys). A recent report found that the number of secrets leaked by organizations doubled last year, reaching an all-time high of more than six million.
