Saviynt secures $700 million in funding for identity security platform

Saviynt Inc., a startup focused on enterprise identity and access management, has successfully closed a $700 million funding round led by KKR, with participation from Sixth Street Growth, TenEleven, and Carrick Capital Partners. The company is now valued at approximately $3 billion, based on information published by Silicon Angle.

Saviynt's Identity Cloud platform addresses cybersecurity risks by mapping user accounts and scanning for potential vulnerabilities. It automates approximately 75% of access request reviews using AI, recommending approvals or rejections based on user activity. The platform also manages privileged accounts, storing credentials in a secure vault and recording user sessions. It enables just-in-time security, granting access only for the necessary duration. Furthermore, Saviynt manages machine identities, with a focus on securing AI agents by identifying and restricting excessive permissions for knowledge bases and neural networks. The platform has been adopted by over 600 enterprises, including more than a fifth of the Fortune 100, managing over 100 million identities.

This substantial funding will enable Saviynt to enhance its platform with more cloud and SaaS integrations and develop AI-powered tools for easier migration from competing services. The company's growth highlights the increasing demand for robust identity governance and the critical need for securing access in complex IT environments, particularly with the rise of AI agents and machine identities.

Source: Silicon Angle