Anetac, a company that protects companies from blind spots of service accounts in hybrid environments, announced its emergence from stealth mode and $16 million in funding. Liberty Global led this latest round of funding, and additional funding was provided by Shield Capital and The General Partnership, along with Anetac CEO Tim Eades and cybersecurity expert Jason Witty.
Anetac will continue to focus on crafting a seamless business experience to elevate its service offerings and cater to security leaders’ needs in the modern threat landscape.
This funding round will be essential for disrupting the identity and security market by providing an intuitive, rapidly deployable SaaS solution. The streaming solution offers real-time visibility, enabling users to discover, monitor, and respond to the large threat surface exploited via service accounts. The threats include but are not limited to, large standing privileges, shared use, lack of credential rotation, and account dormancy.
Anetac’s Dynamic Identity and Security Platform was forged to address a problem plaguing nearly every organization in every industry: unmonitored or poorly monitored service accounts, tokens, API and access keys. Anetac launched with a group of seven founders who have a profound understanding of the cyber security challenges a hybrid enterprise faces and how a dynamic problem requires a dynamic solution. Anetac is already establishing a diverse customer base by servicing markets including leading airlines, banks, colleges, mining, and other critical businesses and infrastructure while demonstrating the global problem of rising data breaches.
Anetac’s Dynamic Identity and Security Platform was built from the ground up in close collaboration with and insight from a community of CISOs, design partners, and security executives. And it equips organizations with the intuitive security solutions needed while remaining agile and deployable within minutes.
KEY QUOTES:
“This is a problem for every organization, in every industry. In today’s rapidly evolving threat landscape, we must acknowledge that the soft underbelly of any organization lies in its ability to monitor and secure dynamic and ever-changing environments with real-time security measures. It’s imperative to recognize that virtually every breach over the past decade has been exploited via service accounts. It’s staggering to discover the extent of poor security hygiene amongst service accounts. With our new platform, available today, we will proactively solve the disconnect of static scanning tools with an innovative, streaming approach that dynamically addresses identity problems and improves organizations’ security posture.”
- Tim Eades, CEO and co-founder of Anetac
“Implementing a streaming identity solution that gives us constant visibility into our service accounts has been a game-changer for our organization. It has saved us many months of effort required for account mapping, helped us scale security efforts and maintain a comprehensive view of our service account landscape. As a strategic partner, Anetac helps our team prioritize and focus on keeping our operations secure.”
- Jeromy Lease, cybersecurity and architecture manager at a Denver-based Mining Company
“The Anetac Dynamic Identity and Security Platform streaming solution is disrupting the market by delivering continuous visibility of non-human service accounts and access chains for both cloud and on-premises environments. This innovative approach to securing service accounts sets a new standard and challenges traditional approaches like never before. Anetac launches amidst a global surge in cyber threat growth across all industries, addressing the critical need for a dynamic streaming solution offering constant visibility and control across all accounts – service, user and admin.”
- Michael Brown, partner at Shield Capital
“Cyber attacks stemming from unmonitored or poorly monitored service accounts are a remarkable global issue affecting organizations in all industries. With the Anetac Dynamic Identity and Security Platform, organizations are poised for constant surveillance on constantly changing service accounts privileges. This investment is about supporting a solution that aims to mitigate a significant risk facing enterprises worldwide.”
- Jason Witty, CISO investor
