Apono, a leader in privileged access for the cloud, announced the successful completion of its Series A funding round, raising $15.5 million. This funding round was led by New Era Capital Partners, with participation from Mindset Ventures, Redseed Ventures, Silvertech Ventures, initial seed investors, etc.
These new secured funds will be used to advance Apono’s mission of providing AI-driven and secure solutions that organizations need to manage access in complex, distributed cloud environments. And these newly secured funds will be used to accelerate product development and enable Apono to continue its growth, deliver unparalleled value to its customers, and solidify its position as a leader in the identity security space. This round brings the total investment from new and current investors to $20.5 million, underscoring strong investor confidence in Apono’s vision and capabilities.
Apono is a next-gen solution for cloud access governance and the company is committed to delivering capabilities that meet the dynamic needs of modern enterprises and support the development, operations and security teams responsible for securing and maintaining cloud environments they depend on. And Apono’s innovative approach provides organizations with a deep understanding of privileged access within their cloud environments, enforces robust security guardrails, and leverages AI-driven least privilege and anomaly detection capabilities to enhance security measures while providing a frictionless experience for end-users.
With this funding round, Apono is set to significantly expand its US sales and marketing teams, while also expanding investments in research and development. And after the company recorded a 300% increase in revenue the last three quarters, Apono has welcomed several key industry executives, further bolstering its market position and enhancing its ability to support a rapidly growing customer base.
Customers are able to anticipate new AI-based access product offerings and improved support from Apono’s sales engineering and customer success teams, which have tripled in size in the US. To meet the needs of new enterprise customers, the company has added enterprise support teams who will deliver the scale of service enterprises require. These strategic developments will ensure seamless onboarding and continuous support for Apono’s expanding clientele.
Apono is devoted to addressing the evolving needs of the identity and access security landscape, particularly as it has grown to play a more significant role in modern cloud environment. And Apono’s solution was built from the ground up to empower organizations to deliver just-in-time, just-enough access management at scale by bridging the security-operational gap in identity and access management. With a focus on innovation and customer success, Apono is poised to redefine how organizations manage and secure access, ensuring robust protection and seamless operations in an ever-changing digital world.
KEY QUOTES:
“Today, more than ever, we are seeing a shift in the identity space. Privileged access management and identity governance are converging, driving the need for more holistic identity and access security solutions, particularly within today’s dynamic cloud environments in which modern businesses operate. As we continue our rapid growth, this funding will enable us to maintain our momentum and continue delivering cutting-edge solutions to our clients. Our investors were drawn to Apono’s unique AI-driven product offering, innovative approach, and its swift adoption by enterprises, recognizing the company’s potential to lead the identity security market.”
- Apono’s Co-Founder and CEO Rom Carmel
“We are thrilled to support Apono in their mission to revolutionize identity and access security. Apono’s innovative solution addresses critical challenges in the cloud access management space, providing organizations with robust, scalable solutions. This investment reflects our confidence in Apono’s vision and their ability to lead the market with cutting-edge technology and exceptional customer focus. We look forward to supporting Apono’s continued growth and success as they redefine how businesses manage and secure access in today’s dynamic environments.”
- Ziv Conen, Partner at New Era Capital Partners
“We were able to self-service Apono in minutes, which significantly enhanced customer trust in our global multi-cloud platform. This seamless integration allows our teams to work without friction, ensuring efficiency and productivity. Moreover, it helps us maintain a least-privilege cloud environment, which is crucial for our security and compliance standards.”
- Arthur Goren, Director of Cloud Engineering at Hewlett Packard Enterprise
“In response to the growing complexity and security threats associated with cloud adoption, forward-thinking organizations are increasingly aligning the goals and workflows of their security and engineering teams. Cloud identity and privilege management are central to these alignment efforts. Apono’s approach to cloud privileged access management aligns with these goals and helps bridge the gap between security and engineering teams.”
- Katie Norton, Research Manager, DevSecOps and Software Supply Chain Security at IDC
