After raising $10 million in financing in its Series A, Opal continues to rapidly build its strategic partnerships and market acceptance
Opal recently announced a $10 million Series A with the prominent VC firm, Greylock. Opal’s platform enables enterprises to manage employee access scalably with the principle of least privilege, where employees are granted only what they need and nothing more. By decentralizing access management away from bottlenecked teams like Security and IT, Opal empowers organizations to grant access with a more selective, context-driven approach, which lessens their attack surface and compliance burden.
"We’re privileged to have the opportunity to work with SVCI," said Stephen Cobbe, CEO of Opal. "Our partnership will help us better understand executive priorities in security and access management, which is crucial for us to prioritize the most pressing problems in the space."
SVCI Delivers Deep Domain Expertise
SVCI brings together over 60 active CISOs to provide personal investments and mentorship to cybersecurity companies spanning a variety of industries. Members are invite-only and rigorously vetted, and together provide over 1000 years of experience in the industry. The organization’s investment strategy is mentorship-driven, with services including 1:1 peer feedback, networking, group brainstorming and more. As one of 13 companies in SVCI’s expanding portfolio, Opal will receive hands-on support and real-world insight from industry leading CISOs to continue its expansion.
"Access management is not just a technology problem—it’s also about people, process and most of all, scale," said Yassir Abousselham, CISO at UiPath. "Opal’s approach to decentralize approvals and automate time-bounded provisioning via popular productivity platforms enables organizations to move beyond compliance and adopt true least privilege at scale."
"We’ve seen a lot of investor interest in the identity and access management space. What really stood out to us about SVCI is their experience as operators. Each of them has evaluated, purchased, and implemented many cybersecurity solutions. Working with them felt like an opportunity we couldn’t pass up," said Stephen Cobbe.
SVCI is an invite-only community of 60 Chief Information Security Officers (CISOs) turned angel investors. With a vast representation of industries, locations, and 1000+ years of cumulative cybersecurity expertise, the organization’s mission is to fuel the next generation of cybersecurity innovation by identifying promising early-stage startups, investing in them, and using its unmatched industry expertise to help them thrive.
The Opal security platform, backed by Greylock, enables organizations to implement least privilege at scale. Through a combination of insights and workflows, Opal decentralizes access management away from overburdened teams. Without using agents or proxies, Opal can be deployed on-premise and cloud in minutes. Opal is based in San Francisco and New York. For more information, please visit www.opal.dev or reach them at email@example.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220628005076/en/