PlainID Announces $11M Funding Round On The Back of 300% YOY Customer Growth
PlainID, a leading provider of authorization solutions, today announced an $11M funding round led by a consortium of existing and new investors including Viola Ventures, INcapital Ventures, Capri Ventures, iAngels, Springtide Ventures and Vintage Investment Partners.
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The authorization market is booming. The ability to easily implement and enforce who can access what and when, whether an internal or external identity, in an on-prem or cloud environment, is a pre-requisite for any modern commercial use case, application and data infrastructure.
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Common authorization use cases include:
– Marketplace that wants to give e-commerce merchants varying levels of access to their proprietary inventory portal.
– Securing the Service Mesh with distributed enforcement and centralized management and governance.
– Enterprises that need real-time automated decisions for allowing or denying access to account data, consistent across all digital channels and fintech services.
PlainID recognized these needs early and built a suite of Authorization as a Service solutions for enterprises and engineering teams who require intelligent solutions to support their cloud initiatives, service mesh implementations and data access governance requirements. The company’s offerings enable companies to modernize their technology stack with smarter access control, including fine-grained and coarse-grained decisions, provided by best-in-class policy-based runtime abilities.
Omry Ben David, General Partner at Viola Ventures: “Authorization is emerging as a meaningful category in the IAM space, alongside identity management and authentication. We are proud to continue and back PlainID, who is leading this category with its unparalleled depth and breadth of Authorization as a Service solutions.”
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