SPHERE raises $31M for PAM solution

SPHERE Technology Solutions, creator of the SPHEREboard end-to-end account control management solution, announced that it has raised $31 million in a series B funding round, according to VentureBeat. The SPHEREboard workflow helps IT teams manage controls for both end-user and privileged user accounts, whether on-premises or on a cloud environment. The company's approach aims to reduce excessive privileged user access and minimize data exposure risks among companies that are increasingly resorting to privileged access management and identity access management solutions to restrict their employees access to sensitive information amid the rise of the hybrid workplace. The goal of true identity hygiene is to ensure that the right people have access to the right information at all times, so an organizations crown jewels are protected, according to SPHERE CEO Rita Gurevich. Through SPHEREboard, security teams are able to automate their management of digital identities, including detecting high-risk users and assessing existing access and data protection controls in order to detect and revoke excessive access permissions.