SecZetta Closes $10M in Series A Funding Round
Fremont, CA: SecZetta, a Boston, MA-based provider of the most comprehensive non-employee identity risk and life cycle management platform has closed $10M in Series A funding. The funding round was led by ClearSky with participation from Rally Ventures.
The funding will enable SecZetta to address the booming demand from enterprise organizations to better perceive, manage and reduce the potential risks associated with non-employee populations from the third -party organizations such as contractors, affiliates, and agents.
"Not all non-employees are created equal," said David Pignolet, CEO of SecZetta. "Yet, organizations provide these identities with similar access to employees, and quite often with little or no risk analysis or due diligence. A purpose-built system that enables organizations to better manage the full lifecycle process for non-employees is critical for streamlining the use of these resources for the desired line of business, while successfully avoiding the risks associated with misclassification and unchecked access," he added.
The growing dependency of enterprises on the partner ecosystems and affiliate relationships makes them even more vulnerable to the breaches and liabilities, caused by the third-party identities.
"When it comes to third parties, unauthorized access means hyper risk, and there is no solution in the market that addresses this problem. There's not a single company today that doesn't have this issue. Every company needs SecZetta," said Art Coviello, former Executive Chairman of RSA, who joined Seczetta board along with Jay Leek, Managing Partner at ClearSky, and Zackary King, Founder and former CEO of SHYFT Analytics, on the day of funding.
Jay Leek, the Managing Director at ClearSky Security, has said:" the non-employee challenge is often an overlooked and underestimated risk at many organizations, what SecZetta is doing represents a shift in the market for the need to better manage third-party identity risk."
Despite an ever-evolving need for hands-on information and the negative repercussions associated with misclassifying a non-employee, the identification and tracking of non-employees remain a broken, manual, and un-auditable business process. Enterprises need to build actionable systematic relationships through collaboration with the partner organizations, and the non-employees themselves, to provide the appropriate context and risk data required to manage these large populations of people. SecZetta becomes the perfect answer here.
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