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BalkanID raises $6 million for smart IGA technology

BalkanID, a startup with ambitious plans to disrupt the identity governance and administration (IGA) space, has banked $5.75 million in seed funding to help organizations find and remedy privileges risky on SaaS and public cloud infrastructure.

The Austin, Texas-based company sneaked out Thursday with a subscription-based product that uses data science and machine learning to give advocates visibility into rights at risk and a streamlined way to manage litigation processes. access examination and certification.

BalkanID is backed by Uncommon Capital, Afore Capital, Sure Ventures and a bold list of leading security leaders and technology entrepreneurs.

The brainchild of former Bitfusion engineers Subby Rama and Jeremy Patton (Bitfusion was acquired by VMWare) and former Whole Foods CISO Sameer Mehta, Balkan ID plans to target the middle market with a tool that uses artificial intelligence and Workflow automation to provide visibility into entitlement risks and simplify the access review and certification process.

“By helping organizations find and resolve problematic entitlements in their SaaS and cloud landscape, BalkanID enables IT and security teams to embed the principle of least privilege into security and IT operations,” the company said. . said in a note funding announcement.

In an interview with safety weekRama said entitlement proliferation occurs when a company grants users more access than necessary to do their job, with no way to see or manage user permissions across multiple SaaS and public cloud environments.

He noted that these risks are particularly severe for small and medium-sized businesses that rely heavily on the manual use of spreadsheets, emails and meetings to manage identity and access governance.

Rama said the company’s technology has been equipped with a risk engine that automatically identifies risky users and those with excessive permissions or toxic combinations, risky applications, roles and privileges in the system. organization’s entire SaaS and public cloud.

“The risk engine automatically updates based on an ever-changing set of parameters, including (but not limited to) role, activity, data attributes and environment, reducing risks and preventing the proliferation of rights.”

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Related: Adaptive Shield Raises $30M for SaaS Security Posture Management

Ryan Naraine is editor of SecurityWeek and host of the popular Security Conversations podcast series. He is a journalist and cybersecurity strategist with more than 20 years of experience in the field of computer security and technology trends. Ryan has implemented security engagement programs for major global brands including Intel Corp., Bishop Fox and Kaspersky GReAT. He is co-founder of Threatpost and the SAS Global Conference Series. Ryan’s career as a journalist includes signings to major technology publications including Ziff Davis eWEEK, CBS Interactive’s ZDNet, PCMag and PC World. Ryan is a director of the non-profit organization Security Tinkerers and a regular speaker at security conferences around the world.
Follow Ryan on Twitter @ryanaraine.

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