Oleria Secures $33M Series A for Cutting-Edge Identity Security
Bellevue-based cybersecurity firm Oleria has secured $33 million in its Series A funding round, marking a pivotal moment in its mission to redefine identity security. The funding, led by Evolution Equity Partners propels Oleria’s total funding to over $40 million. This financial injection positions Oleria to accelerate its innovative approach to adaptive and autonomous identity security.
Oleria distinguishes itself by offering adaptive and autonomous identity security solutions. It addresses the critical need for organizations to safeguard against evolving cyber threats. The company’s core focus is to provide comprehensive visibility into access posture and to autonomously identify and mitigate access risks. Jim Alkove, co-founder and CEO of Oleria, emphasizes the team’s dedication to creating solutions tailored to the complex challenges faced by Chief Information Security Officers (CISOs).
Industry Challenges and Oleria’s Unique Approach
With a staggering 80% of breaches utilizing compromised identities, Oleria’s mission aligns with the evolving security landscape. Traditional identity security measures often prove inadequate against the dynamic and interconnected nature of modern business operations. Oleria’s solution addresses this by implementing context-based access policies, ensuring continuous and consistent protection. The company aims to enable organizations to manage risk effectively while fostering innovation and business agility.
Oleria welcomes cybersecurity experts Taher Elgamal and John Watters to its expanded board of directors. Elgamal, former CTO of Security at Salesforce, and Watters, former President and COO at Mandiant, bring invaluable experience in navigating the cybersecurity landscape.
Future Prospects
This funding milestone comes just 10 months after Oleria’s successful $8 million seed funding round led by Salesforce Ventures. The company is currently piloting its solution with a diverse group of customers. It plans for general availability starting in early 2024. Oleria’s commitment to delivering the next evolution of adaptive and autonomous identity security solutions reflects its dedication to staying ahead of evolving threats while maintaining customer trust and business agility.
In the fast-evolving realm of cybersecurity, Oleria stands poised to disrupt the industry, fulfilling a crucial need in identity security and ensuring organizations can pursue their best ideas securely.
