Identity protection company Silverfort of Tel Aviv and Boston has raised $116 million in Series D funding, bringing the total amount raised to $222 million.
Silverfort counts among its clients global financial services, manufacturing and retail companies including multiple Fortune 50 companies.
Brighton Park Capital (BPC) of Connecticut led the round, with participation from existing investors including Acrew Capital, Greenfield Partners, Citi Ventures, General Motors Ventures, Maor Investments, Vintage Investment Partners and Singtel Innov8.
Mega rounds of over $100 million were not uncommon in 2021 and 2022 but they have been few and far between over the past year.
Ranked as the #1 Best Startup Company to Work For in Israel for the second consecutive year, Silverfort announced its intension to hire additional employees, already located across more than 15 countries, and will use the additional funds to expand its product offerings.
Compromised identities and credentials are considered the #1 tactic for cyber-threat actors and ransomware campaigns to break into organizational networks and spread inside networks. By connecting to the silos of the enterprise identity infrastructure, Silverfort unifies identity security across all on-premises and the cloud environments.
“Identity has become the weakest link in enterprise security, and solving it requires a new approach – a unified, end-to-end layer of security that covers all the silos and blind spots of the identity infrastructure,” said Hed Kovetz, Silverfort’s cofounder and CEO.
“We are very excited about our new partnership with BPC, which will allow us to accelerate our platform vision and strong business momentum. We look forward to reshaping the way identity security is done in every company, to effectively answer today’s and tomorrow’s cyber threats.”