ConductorOne – a leader in identity security and access governance – recently announced a $12 million expansion of its Series A funding led by Felicis. This extended Series A also included participation from notable new angel investors, including Travis McPeak (CEO and founder at Resourcely), Anna Westelius (Director of Security Engineering at Netflix), Jason Chan (Head of InfoSec at Netflix), Mark Hillick (Head of Security at Brex), Rohit Parchuri (CISO at Yext), Will Bengtson (Senior Director of Security Engineering at HashiCorp), Shubham Raj (Staff Security Engineer at Coinbase), and Tom Alcock (Founder at CodeRed Partners). And all of these investors bring extensive expertise and resources that will enable ConductorOne to further strengthen its position as a leader.
The company has seen substantial growth since its initial Series A funding announcement in June 2022 and is now managing access for customers including DigitalOcean, Ramp, Loom, Panther, DeepWatch, and more. These businesses utilize ConductorOne to automate and orchestrate user access to cloud apps and infrastructure through access reviews, self-service requests, just-in-time provisioning, and offboarding workflows. The additional investment will support the company’s growth plans to drive the modernization of the Identity Governance and Administration (IGA) and Privileged Access Management (PAM) markets for cloud forward companies.
The traditional IGA and PAM solutions have failed to adequately address the needs of modern organizations because they were not built for the cloud era. And there is slow time to value, clunky implementation, and poor user experiences across siloed products have made IT and security teams struggle to remain compliant and secure. Plus, IT teams are consumed with access request tickets and manual provisioning, while security teams deal with an increasing attack surface of standing permissions. The implementation of least privilege, considered a best practice, has remained out of reach without a modernized approach. ConductorOne has positioned itself as the solution to these challenges by guiding, automating, and orchestrating access controls to enforce least privilege.
Along wtih the funding, the company is also announcing its Cloud Privileged Access Management (CPAM) solution today, which is a major step forward in ConductorOne’s ongoing mission to secure workforce identity and access. And with ConductorOne CPAM, security engineering and IT teams can manage permissions and enforce policy for cloud resources in order to achieve least privilege access. The CPAM capabilities now live within ConductorOne’s unified platform make it possible to govern sensitive access to all cloud infrastructure systems – like AWS, GCP, Azure, Snowflake – without getting in the way of productivity for technical users.
KEY QUOTES:
“Any solution that helps companies achieve least privilege has to have little to no impact on workforce productivity. ConductorOne is building a multi-product platform that delivers just that – least privilege access with a seamless user experience powered by automation.”
— Jake Storm, Partner at Felicis
“ConductorOne is innovating in an area underserved by the technology industry, and solving problems a lot of teams have to do manually. That has a really big value for DigitalOcean. We knew that we wanted everything to be automated, we didn’t want to do anything manually. That didn’t exist anywhere in the market.”
— Heather Cannon, Infrastructure Security Manager at DigitalOcean
“The fewer people who have access to customer data and the less time they have to access that data, the more that our customers can trust that their data is secure. We found that ConductorOne is willing to collaborate with us and help us solve some of our most difficult challenges when it comes to access management across the company.”
— Paul Yoo, Head of Security Assurance at Ramp
