Source: www.databreachtoday.com – Author:
Identity & Access Management , Security Operations
Startup Aims to Secure AI Agents, Expand Global Reach, Do User Access Management Michael Novinson (MichaelNovinson) • December 10, 2024
A startup founded by a former Israeli Military Intelligence leader raised $45 million to secure AI agents and other non-human identities.
See Also: Securing the Cloud, One Identity at a Time
Astrix Security said the Series B funding will enable the New York-based company to help enterprises securely integrate AI technologies into their organizations and begin offering user access management, said co-founder and CEO Alon Jackson. The push into the larger identity security market will help Astrix correlate human and non-human identity data and address a broader set of customer use cases.
“In cybersecurity, the winner takes it all,” Jackson told Information Security Media Group. “And when there’s a new category emerging, doubling down and taking it all is super important. We had enough cash in the bank, we could have waited another year. But when you see the momentum, it’s much better to raise as soon as possible.”
Astrix Security, founded in 2021, employs 80 people and has raised $85 million in outside funding, having previously completed a $25 million Series A round in June 2023 led by venture capital firm CRV. The company has been led since inception by Jackson, who was previously the Israeli Military Intelligence’s head of cybersecurity research. Astrix’s latest funding round was led by Menlo Ventures (see: Astrix Security Raises $25M to Protect Nonhuman Identities).
What Menlo Brings to the Table As Lead Investor
The latest funding will help Astrix strengthen its product portfolio in non-human identity security and user access management by doubling the company’s workforce from 80 to 160 employees, with a focus on hiring backend and frontend developers, machine learning experts and cloud researchers. Compliance needs around GDPR and AI-specific laws have driven demand for identity tools in Europe, he said.
“The goal here is really not keeping the gap on our competition, but really increasing the gap,” Jackson said. “This obviously big B round will help us to increase the gap, both on the go-to-market side and the product side.”
Menlo’s history of scaling AI and cybersecurity companies will help Astrix grow its annual recurring revenue from $5 million to $100 million, while Menlo’s existing work with Anthropic aligns with Astrix’s goal of securing AI agents seamlessly. Jackson said Menlo’s investment and the opportunity to partner with Anthropic will help Astrix accelerate product development and scale its go-to-market effectively.
“Anthropic is like OpenAI for the enterprise,” Jackson said. “They provide a secure, reliable solution for that, and obviously our mission flows hand-in-hand with them. We are here to secure the AI agents. Agents are the major part of non-human identities today, and we really enable the enterprise to use them in a secure manner.”
Unlike traditional scripts or robotic processing automation tools that engage in predictable patterns, AI agents evolve dynamically, which makes their behavior less predictable and harder to secure. Astrix is setting up secure, fine-grained permissions for AI agents that evolve over time using anomaly detection and fingerprinting techniques in an effort to mitigate risks while ensuring operational continuity, he said.
What Sets Astrix’s Approach to Non-Human Identity Apart
Specifically, he said Astrix wants to detect deviations from expectations by creating a fingerprint for every AI agent, which incorporates who created the agent as well as its permissions and behavior. He said fingerprinting techniques will help secure access to AI agents and help organizations to adopt them responsibly.
“You’re faced with a binary response today – either go or no go. The idea is to give users a third option,” Jackson said. “They get connected through Astrix in a more secure manner, really enabling organizations to actually use more of these AI agents, but in a more secure manner.”
In the non-human identity space, Jackson said Astrix differentiates itself from incumbents like Venafi by focusing on cloud, service and API-level issues rather than low-level device or certificate management issues. While new competitors have emerged from stealth, Jackson said Astrix leverages its first-mover advantage and mature platform to secure deals, win RFPs and lead the category with sustained growth.
Jackson said Astrix primarily serves Fortune 500 or other large firms with complex identity management needs and hybrid IT infrastructures that blend on-premises and cloud settings. The focus is on firms in regulated sectors like finance, healthcare and software, where compliance and healthcare dominate, though Astrix also has notable customers in retail and gaming, according to Jackson.
Although profitability is likely a half-decade away, Jackson said Astrix wants to maintain its current 5x annual revenue growth, preserve high levels of customer satisfaction, expand within existing accounts, and acquire new customers in strategic sectors.
“A new customer is exciting, but when an existing customer expands once more, that’s really the best,” Jackson said. “First and foremost, we want to serve our amazing customers who got us so far in a more compelling way. Both advancing the secure access and our AI governance, and then obviously expanding to new customers across the United States and in Europe.”
Original Post url: https://www.databreachtoday.com/astrixs-45m-series-b-targets-non-human-identity-security-a-27006
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