Today is one of those days where we’re equal parts proud, grateful, and caffeinated. We’re thrilled to share that Venice has raised $33M to help enterprises finally get privileged access right, in a world of cloud, SaaS, automation, and AI.
This funding is an exciting milestone, but also a signal that the industry is ready to move on from access models that were built for a very different era (one with fewer systems, fewer identities, and a lot fewer bots making decisions at machine speed).
Read More – Selector Raises $32M in Funding
The Model No One Loves (But Everyone Lives With)
For years, privileged access has been managed with a familiar toolbox that included vaults, password rotation, approval tickets, and long-lived permissions that never quite go away, which compiled into environments that are impossible to keep track of.
These systems were designed for on-premises servers with a small, stable group of local admins that rarely changed. Replacing, migrating, or integrating them can take months, so companies keep using them even when they know they’re outdated. They stick with them out of fear – fear of breaking things during migration, fear of the cost involved, or because they remember how long it took to get any value from their initial PAM deployment. And while these companies never fully completed that implementation, the thought of starting over can be terrifying.
Bottom line: enterprises today are running dozens of identity and access products at once (for human users, service accounts, APIs, bots, AI agents, temporary contractors, legacy systems, and every new SaaS tool that gets added along the way), stitching together a patchwork where what should be an identity stack becomes an administrative nightmare, and permanent access quietly piles up.
Legacy PAM vs. The Machine Age
Modern enterprises manage much more than people. They manage machines. Pipelines. Workflows. Agents. Autonomous systems. AI tools that can spin up infrastructure and touch sensitive data in seconds. These non-human identities now outnumber human ones, and they’re often the least visible.
Traditional PAM tools weren’t designed for this world. They assume stable environments and predictable users. But today’s access patterns are dynamic, distributed, and automated.
Which means security needs to be dynamic too.
Timely Access = Secure Access
At Venice, what stood out to us early on was how casually standing access becomes part of everyday operations. Permissions are granted for a project, a deployment, a migration, or a quick fix, and then they quietly blend into the background of the organization. Over time, access accumulates faster than anyone can track it, spreads across teams and systems, and ends up disconnected from the business context that justified it in the first place.
So instead of treating privileged access as something to be stored and managed indefinitely, we built Venice around continuous monitoring and real-time control. The platform constantly maps every identity and entitlement across cloud, SaaS, on-prem, and hybrid environments, evaluates what’s happening in the moment, and aligns access with actual operational need. When access is required, it’s granted immediately. When that need disappears, so does the permission.
This approach removes the default assumption that access should be “kept around,” replacing it with a model where privilege exists only in active use.
It also reflects the reality that identity teams live in today. Most are managing a cluster of disconnected tools, each responsible for a different environment or identity type, none offering a complete picture. Venice brings these fragments into a single lifecycle from discovery and authorization to usage, revocation, and audit, spanning human, machine, and AI-driven identities across cloud and on-prem systems.
The result is access that adapts as fast as the business does, stays aligned with real-world activity. It’s the first step towards a unified life cycle identity stack that behaves like a living system instead of a static set of permissions.
Read More – Korsana Biosciences Raises $175M in Funding
