Aembit, a prominent non-human identity and access management (IAM) company based in the United States, recently announced securing $25 million in Series A funding. The investment, led by Acrew Capital with participation from existing investors Ballistic Ventures, Ten Eleven Ventures, Okta Ventures, and CrowdStrike Falcon Fund, brings Aembit’s total capital raised to nearly $45 million. This financial boost will drive the company’s advancements in scalable workload access management for enterprises.
The decision to fund Aembit comes at a critical time as the industry faces an increasing number of high-profile non-human identity attacks on organizations like Cloudflare, The New York Times, and Microsoft. Non-human identity (NHI) attacks involve applications, scripts, and bots utilized by businesses to automate operations, along with the corresponding credentials used to communicate with sensitive databases, applications, and infrastructure. These incidents have exposed critical information such as API keys, access tokens, and other non-human access credentials, leading to breaches in enterprise environments.
A survey conducted by Aembit revealed that a significant percentage of organizations continue to struggle with securely managing NHI credentials, with many still storing credentials in code or using methods like email and chat for credential sharing. With over 60% of respondents seeking a comprehensive solution for managing NHI credentials across their entire organization, the need for a more secure and efficient approach to access management is evident.
Recognizing the urgency for an access-focused strategy that automates identity-driven, secretless, centrally enforced, and auditable access between applications and SaaS services, Aembit has emerged as a leader in addressing this challenge. By pioneering non-human IAM, Aembit enables policy-based access management between workloads and sensitive resources, offering proactive solutions to reduce attack surfaces for non-human identities.
Aembit’s innovative approach has been well-received in the industry, earning the company recognition as a finalist in the prestigious 2024 RSA Innovation Sandbox competition and the 2024 SC Awards for Best Identity Management Solution. With features such as MFA-strength conditional access, policy automation via infrastructure-as-code, and robust auditing for NHI access, Aembit continues to push the boundaries of access management technology.
Co-Founders David Goldschlag and Kevin Sapp, with their extensive experience in the identity landscape, are leading Aembit’s efforts to revolutionize access security for enterprises. Their platform, the Aembit Workload IAM Platform, facilitates secure access between non-human workloads and services while emphasizing identity-based and posture-based access control. By leveraging automation and eliminating the need for storing sensitive secrets within applications, Aembit helps organizations proactively secure non-human access while streamlining workflows for security, engineering, and DevSecOps teams.
In conclusion, Aembit’s recent funding milestone underscores the industry’s recognition of the pressing need for advanced IAM solutions to combat non-human identity attacks. With a clear focus on innovating access management for modern enterprise security challenges, Aembit aims to reshape the landscape of non-human identity and access management, providing organizations with the tools needed to protect sensitive data and infrastructure effectively.