Entro Security, a pioneer of Non-Human Identity (NHI) security and the developer of an award-winning NHI and Secrets Management platform, announced it has closed an $18 million Series A round, led by Dell Technologies Capital with the participation of seed investors Hyperwise Ventures and StageOne Ventures, as well as angel investors such as Rakesh Loonkar and Mickey Boodaei. Entro will use the financing to scale global operations and meet the strong demand for its platform across key industries. Entro has raised $24 million since exiting stealth in May 2023.
The rapid-fire pace of cloud and SaaS adoption has enabled the proliferation of unmanaged NHIs and secrets – such as API keys, service accounts, tokens and certificates – with NHIs outnumbering human employees by 45 times, according to industry analysts. In turn, the rise of NHIs has created widespread vulnerabilities that attackers have parlayed into a slew of high-profile attacks, including the recent Dropbox breach. The sheer volume and ubiquity make them impossible to secure and manage manually. As a result, NHI lifecycle and secrets management has ascended quickly to become a strategic security priority for the business. Entro enables organizations to secure them, oversee their usage and automate their lifecycle from inception to rotation.
“Both IBM and Verizon reports ranked NHI and secrets breaches as the second most frequent attack and the costliest one, which is why interest in our platform has spiked by CISOs and security leaders,” said Itzik Alvas, CEO and co-founder of Entro Security. “We are eager to use the Series A funding to continue to lead this vertical, serve our dozens of customers and scale.”
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Entro’s Platform Brings NHI Lifecycle Management, Secrets Security and NHIDR to Life
Entro’s platform empowers security teams to implement and automate strong governance for secrets and NHI Management with real-time detection and response. By providing a bird’s-eye and granular view of all NHIs, centralizing and contextualizing NHIs and secrets security data, Entro gives universal coverage across cloud services, SaaS applications and on-premises systems, allowing security teams to:
- Gain complete visibility at creation, storage and exposure locations, scattered across various systems and environments
- Enrich and add business context to understand owners, permissions, usage, enablement, rotation time and more
- Identify and prioritize security risks, remediate vulnerabilities and prevent unauthorized access to critical systems and data
- Apply detection and response to prevent attacks and misuse in real time by monitoring any abnormal behavior
- Automate the remediation of identified security risks, saving time and resources for the security and development teams
- Ensure compliance with regulatory requirements such as SOC2, GDPR and others by maintaining robust access controls and security measures
“The Entro Security team intimately understands the complex challenges of securing enterprise-scale systems. Itzik and Adam have lived these challenges which is how they’re able to build a platform that’s truly by practitioners, for practitioners to address threats to machine-to-machine interactions,” said Deepak Jeevankumar, Managing Director, Dell Technologies Capital. “Their approach is resonating with both analysts and customers with significant recognition from both. We look forward to partnering and supporting the Entro team as they build on this impressive early velocity.”
Within its first year, Entro is already working with customers including Booking, SolarWinds, Elastic, KAYAK and Regatta, proving their value to solve the NHI problem.
Based in Manchester, England, Regatta Great Outdoors is one of the world’s biggest outdoor brands with over 120 retail stores in more than 55 countries. “Entro has become an essential tool for our organization,” said Or Avraham, Cloud Security Specialist at Regatta. “The platform provides advanced capabilities such as removing secrets exposure and Non-Human Identity Detection and Response, integrating easily into our existing workflows. We highly recommend Entro to any modern company looking to secure and manage the lifecycle of their Non-Human Identities and Secrets, end-to-end.
SOURCE: Businesswire