Ploy gets £2.5M boost to combat identity attacks

SiliconANGLE reports that UK-based cybersecurity startup Ploy has raised 2.5 million in seed funding to accelerate product development and expand its global reach.

Founded in 2023 by CEO Jacob Prime and CTO Harry Lucas, both former executives at Metomic, the company aims to combat the surge in identity-related cyberattacks, which now account for nearly 80% of all security breaches. Ploy's platform automates identity processes such as onboarding, access reviews, and offboarding across SaaS and cloud environments, enabling organisations to gain visibility into access permissions within minutes.

The solution includes an AI assistant named Luna, designed to detect anomalies and provide context-driven access decisions. Prime said identity has become "the biggest area boards need to prioritize," adding that manual tracking is now a legal and security risk.

The funding round was led by Osney Capital, with backing from Superseed, Tiny.vc, Rule30 Ventures, and several angel investors.