Obsidian Security has raised $85 million in Series D funding at a valuation of $1.1 billion. The round was led by Crescent Cove Advisors, with participation from all existing investors, including Greylock Partners and Menlo Ventures.
The financing follows growth in Obsidian’s enterprise customer base, with more than 100 customers now spending over $100,000 annually and more than 14 spending above $1 million.
Obsidian develops security tools for non-human identities and AI agents operating inside third-party enterprise applications.
The company said non-human identities outnumber human identities by 144 to one within third-party applications, a gap that is expected to increase as companies deploy more AI agents.
Obsidian’s customers include 60 Fortune 500 companies spanning financial services, social media and telecommunications.
The company plans to use the financing to expand research and development and increase adoption among Fortune 500 and Global 2000 organizations.
Obsidian’s platform provides an inventory of AI agents, large language models and Model Context Protocol servers connected to enterprise applications.
Its runtime governance technology is designed to detect and block privilege escalation, excessive data access and policy violations before an agent can take harmful actions.
The company’s new capabilities include access controls for Anthropic’s Claude Code and Cowork, real-time runtime protection across several agent platforms, MCP server inventory and LLM inventory.
Obsidian supports agents built with platforms including Microsoft Copilot Studio, Salesforce Agentforce, n8n, Google Vertex, Amazon Bedrock and OpenAI.
The company said more than 70% of its customers already allow AI agents to access third-party applications containing source code, regulated information, customer data and intellectual property.
KEY QUOTES:
“AI is fundamentally changing how enterprises operate, creating new infrastructure challenges that legacy security models weren’t designed to address.”
Jun Hong Heng, Founder and Chief Investment Officer of Crescent Cove Advisors
“AI agents gravitate toward third-party applications. That’s where the data lives, that’s where the work happens and that’s exactly where the risk lives too.”
“We intend to be the platform that protects enterprises from agents going rogue in third-party applications.”
Hasan Imam, CEO of Obsidian Security
