- The company’s service eliminates the trade-off between security and speed.
- The company concentrates on resolving challenges for organizations that use outdated security solutions.
Recently, Oleria Corp., a startup specializing in adaptive and autonomous security access solutions, revealed a successful fundraising of USD 33 million. The funds will be utilized to expedite product innovation, specifically enhancing artificial intelligence capabilities, and to broaden its go-to-market strategy.
Jim Alkove, a former Chief Trust Officer of Salesforce Inc., and Jagadeesh Kunda, an identity solutions product executive and a former Chief Product Officer of JumpCloud Inc., founded the business. It provides organizations with autonomous and adaptive identity security solutions to safeguard their data during this period of digital transformation. According to the company, its service eliminates the need for businesses and their Chief Information Security Officers to choose between security and speed by providing adaptable security solutions that let them adapt to their changing access requirements.
The focus of the service is to tackle challenges organizations face using outdated security solutions, which often require substantial manual efforts to counter identity-based threats. Oleria contends that with the rising adoption of numerous interconnected software-as-a-service applications and cloud infrastructure, security solutions must evolve to effectively address the intricate requirements for continuous protection against expanding threats.
According to Oleria, their access management approach empowers Chief Information Security Officers (CISOs) to safeguard data and uphold trust in a dynamic environment without imposing traditional, inflexible security constraints that may hinder business agility. The solution effectively addresses these needs by granting suitable access to the correct users at the precise time and duration, all while prioritizing an unwavering commitment to an optimal user experience.
The solution consistently evaluates and verifies individuals, applications, and assets participating in every digital interaction. It empowers organizations to tailor security measures to particular contexts and evolving requirements.
Alkove, the company’s Co-founder and Chief Executive, said, “Oleria provides organizations with comprehensive visibility into their access posture and autonomously identifies and mitigates access risks before they can be exploited. We are security operators building solutions for operators. Our team’s decades of experience in building and operating security programs at scale at tech leaders like Salesforce, Amazon and Microsoft allows us to understand the complex challenges CISOs are facing and tailor our solutions to them.”
Series A funding was spearheaded by Evolution Equity Partners LLC, joined by participants such as Salesforce Ventures Inc., Tapestry Ventures LLC, and Zscaler Inc. With this latest investment, Oleria’s total funding surpasses USD 40 million, encompassing a previous seed round of USD 8 million in March 2023.