Highlights:

  • Based in Redwood Shores, California, the startup offers a platform that automatically scans a company’s applications to identify which users have access to specific resources.
  • Veza plans to use the new funding to fuel its go-to-market initiatives and expand its feature set, including tools for controlling how AI agents access data and applications.

Veza Inc. raised USD 108 million from investors for technological upgrades. The startup helps companies control employee access to business applications.

New Enterprise Associates spearheaded the Series D round with participation from the venture arms of Workday Inc., Salesforce Inc., and Atlassian Corp. Additional backing came from more than half a dozen other investors, including GV, Alphabet Inc.’s startup fund.

In large organizations, where thousands of employees have access to internal systems, a compromised account can expose a significant amount of data to hackers. To reduce the damage from potential breaches, companies must ensure employees only have access to the specific applications they need for their roles. However, enforcing such access controls consistently across a large workforce can be a complex challenge.

Veza aims to simplify the complex task of managing access controls. The startup based in Redwood Shores, California provides a platform that voluntarily scans a business application to detect which users have access to particular resources. It presents this data in a visual graph, enabling administrators to quickly detect misconfigured access permissions.

For instance, if a company policy states that only members of the cybersecurity team should be able to modify database settings, Veza can help identify any user accounts with that capability that fall outside the designated team. The platform also features a search bar that allows administrators to query access data using natural language.

In large organizations where user permissions frequently change, Veza can be configured to send alerts when access is granted in violation of internal policies. It also flags inactive accounts that technically have correct permissions but are no longer in use, highlighting them as potential security risks.

Organizations often create accounts not only for employees but also for applications. For example, a revenue forecasting tool may need its own account in a sales database to access transaction records. With Veza, administrators can identify such non-human accounts within the corporate network and remove them when they’re no longer in use.

The funding announcement comes on the heels of concrete growth for the company. Over the past year, Veza more than doubled its annual recurring revenue, added ten Fortune 500 companies to its client roster, and saw significant spending increases from existing customers. The platform now coordinates more than 20 billion access permissions across its user base.

Veza plans to use the new funding to fuel its go-to-market initiatives and expand its feature set, including tools for controlling how AI agents access data and applications. The company, currently valued at USD 808 million, also intends to hire 30 to 40 employees each quarter through the end of 2025 to support its continued expansion.