SGNL, the company modernizing enterprise authorization, has launched and is now generally available. SGNL was founded in 2021 with a $12 million seed round backed by Costanoa Ventures, Fika Ventures, Moonshots Capital and Resolute Ventures. Advisors include Andrew Peterson, Founder and CEO of Signal Sciences, Chuck Mortimore, VP of Identity Products at Disney, former SVP of Identity at Salesforce, and Yvonne Wassenaar, former CEO of Puppet.
“While there are many companies out there addressing the authentication side of the identity and access management market, just-in-time authorization doesn’t exist,” said Scott Kriz, Chief Executive Officer and Co-Founder of SGNL. “The conversations we’ve had with CISOs across industries makes me more confident than ever that our approach is unique, letting us solve problems that we were previously unable to contemplate.”
According to Gartner Inc., by 2024, organizations running cloud infrastructure services will suffer a minimum of 2,300 violations of least privilege policies, per account, every year.1
Enabling employees and contractors to access sensitive data in the right context and at the right time, without overly broad privileges, has been a long-term challenge for internal security teams. The weekly cadence of security breaches at large companies highlights the ever increasing need for a defense-in-depth strategy that looks at every access rather than the current static, role-based approach.
“Every CISO we introduced to the SGNL team asked ‘How soon can I use this?’,” said Greg Sands, founder and managing partner of Costanoa Ventures. “It was very clear the industry needed this and that this was the best team to solve the access management problem in a truly innovative way.”
SGNL aims to provide just-in-time access to sensitive customer data to the right users at the right time based on business context such as current task, business need or justification. The SGNL team saw how important this problem was to solve and realized that current methods did not do enough to safeguard data while letting employees still get their jobs done.