Thursday, April 18, 2024
HomeFunding WA-based Oleria Secures $33.1M in Series A Round Funding

[Funding alert] WA-based Oleria Secures $33.1M in Series A Round Funding

WA-based Oleria secures $33.1M in series A round funding. This latest investment, which brings the company’s total funding to over $40 million, is led by Evolution Equity Partners with participation from Salesforce Ventures, Tapestry VC, and Zscaler.

WA-based Oleria secures $33.1M in series A round funding. This latest investment, which brings the company’s total funding to over $40 million, is led by Evolution Equity Partners with participation from Salesforce Ventures, Tapestry VC, and Zscaler.

Read also –  WA-based Fullcast Secures $34M in Seed Funding

This funding round enables Oleria to ramp up hiring to accelerate its product innovation, including AI capabilities, as well as its go-to-market strategy.

Jim Alkove, co-founder and CEO of Oleria 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.”

‍Industry data shows that 80% of all breaches use compromised identities. Today, most organizations leveraging legacy security solutions must expend significant manual effort to combat these identity-based threats.

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Punit Minocha, Zscaler’s Executive Vice President of Business and Corporate Development said, “Identity security is the cornerstone of any zero trust security program. Legacy approaches to identity security fail to address the underlying security risk while hurting business agility, We are excited to support Oleria in their mission to build an adaptive and autonomous future for identity security that enables organizations to effectively manage risk while innovating at the pace of business.”

Taher Elgamal, Partner at Evolution Equity Partners and former CTO of Security at Salesforce said, “The threat landscape is ever-evolving and cybercriminals are becoming more innovative in their attacks thanks to the prevalence of emerging technologies like AI, who will be joining Oleria’s expanded board of directors as part of this funding round. Oleria is bringing cybersecurity into the future and keeping pace with the changing landscape by fulfilling a critical, unmet need in identity security.”

‍In addition to Elgamal, John Watters, former President and COO at Mandiant, will be joining Oleria’s board of directors and investing in the round. Watters will bring a wealth of cybersecurity, go to market, and business operations expertise.

Read also –  California-based Mercor Secures $3.6M in Funding

About Oleria

Oleria provides adaptive and autonomous identity security solutions that help organizations accelerate at the pace of change, trusting that their data is protected. Oleria enables organizations to have comprehensive visibility into their access posture and autonomously identifies and mitigates access risks before they can be exploited.

Read also – Conn.-based Kusari Secures $8m in Pre-Seed & Seed Funding

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