Identity and access management startup ConductorOne Inc. has raised $15 million in new funding to enhance product development and increase its marketing efforts.
Accel led the Series A round, with Fuel Capital, Fathom Capital, Active Capital and several individual investors also participating. Including the new funding, the company has raised $20 million to date, according to Crunchbase.
Founded in 2020 by former Okta Inc. employees Alex Bovee and Paul Querna, ConductorOne offers a platform that integrates web and modern infrastructure permission management. Deigned to make granting access and managing permissions quick, secure and compliant, the platform is claimed to “decentralized and democratize” access to cloud applications and infrastructure.
The company argues that though single sign-on solutions accelerated the adoption of cloud apps and infrastructure, it led to a massive sprawl of identities, permissions and access. ConductorOne says this left security, governance, risk and compliance teams as well as information technology teams overworked and lacking the tools they need to manage and govern access comprehensively.
“With the explosion of the cloud, companies are struggling with identity sprawl: understanding and managing what identities exist and what systems and data they have access to,” Chief Executive Officer Bovee said in a statement. “Security teams want to automate access control but are finding that traditional governance and privileged access solutions don’t work for modern, cloud-forward companies.”
ConductorOne says it designed its identity security platform to automate least privilege and compliance, such as system and organizational controls and SOX, while simultaneously reducing an organization’s identity risk posture. The platform automates manual workflows and gives real-time visibility into all permissions. Tasks that typically take weeks — such as access reviews — are done in a couple of clicks with ConductorOne.
The platform automates access reviews and permissions management so organizations can meet compliance requirements, reduce the risk associated with identity and credential misuse, and save time. ConductorOne works alongside existing identity platforms, cloud software-as-a-service and infrastructure-as-a-service applications and human resources systems to orchestrate access changes and automate compliance.
ConductorOne’s service offers no-code integrations, flexible workflows and management via the web, email and Slack to assist companies in achieving security and compliance goals in a matter of days, it says.
