Oleriaa startup that provides access management tools primarily for enterprise customers, announced today that it has raised $33 million in a Series A round led by Evolution Equity Partners with participation from Salesforce Ventures, Tapestry Ventures and Zscaler.
Oleria was founded in 2022 by Jim Alkove and Jagadeesh Kunda. Alkove, a former Microsoft CVP and former “chief trust officer” at Salesforce, where he met Kunda, says he’s “long been bothered” by the challenge of providing cyber security without preventing business partners from doing their jobs. .
“Too often access to applications and data is insecure due to over-provisioning and complex governance, as well as putting unnecessary obstacles in the way of employees – making it difficult to balance security and business agility,” Alkove told TechCrunch in a e-mail. interview. “It’s clear that the real solution requires an adaptive and autonomous approach to access — providing exactly the right access, at the right time, for the right duration.”
Oleria’s solution is a platform that limits what digital assets users can access — for example, which apps they can use — in an organization. Oleria also attempts to identify wrongly granted permissions and unintended access, making recommendations to remediate the access risk.
Oleria, which has raised over $40 million in venture capital to date, including a Series A tranche, has yet to make its platform generally available. The plan is for a GA later this year — assuming a pilot with select leads goes well.
“Oleria’s biggest competitor today is the status quo,” Alkove said. “CISOs and their teams are spending countless hours and resources trying to combat the ever-increasing threat of access-related cyber breaches, leveraging a combination of legacy systems combined with significant manual management and intervention — and they’re ill-equipped for today’s threat environment… We’ built and managed enterprise security solutions at scale and also operated global security teams, giving them a unique understanding of these challenges and what it takes to solve them.”
