Agentless Authentication Provider Silverfort Secures $30 Million
Silverfort, provider of the industry’s first agentless, proxyless authentication platform, announced today that it has raised $30 million in a series B investment round. The new funding will allow Silverfort to further accelerate the company’s fast growth and meet the increasing customer demand for secure authentication and access solutions, which is boosted by the global shift to remote work.
The financing was led by Aspect Ventures, with participation of Citi Ventures, Maor Investments, and the company’s early investors TLV Partners, StageOne Ventures and Singtel Innov8. Mark Kraynak from Aspect Ventures will be joining Silverfort’s board of directors. This funding round follows a milestone year of growth for Silverfort and brings the total investments in the company to $41.5 million.
“The shift to hybrid and multi-cloud environments, combined with the dramatic acceleration of remote work is driving the need for secure authentication and access of corporate users beyond the perimeter,” said Mark Kraynak, Venture Partner with Aspect Ventures. “Implementing these security controls system-by-system is no longer realistic. Silverfort brings a disruptive technology that is uniquely designed for the perimeter-less era. We are very impressed by the company’s customer traction, leadership and product vision, and excited to help it accelerate its growth.”
Silverfort developed an innovative platform that seamlessly enforces secure authentication and access policies (including Multi-Factor Authentication, Risk-Based Authentication, Zero Trust and more) for any user, device and system, both on-premises and in the cloud, without the need to deploy any agents, SDKs or proxies. Its unique architecture allows Silverfort to protect large and complex networks and cloud environments in a unified manner, with an AI-driven risk engine that automatically adjusts policies based on the user’s behavior, and prevents threats such as account takeover, ransomware and lateral movement.
Silverfort enables its customers to protect many sensitive systems that other vendors can’t integrate with, such as homegrown/legacy systems, critical infrastructure, file systems, IoT, command-line interfaces, machine-to-machine access and more. Silverfort also allows customers to migrate their existing servers and applications to the cloud in a secure manner without having to modify them.