January 23, 2024 at 09:12AM
Israeli startup Silverfort raised $116 million led by Brighton Capital in a Series D funding round, with existing investors also expanding their equity stakes. The company aims to scale its identity security technology, having already added tens of millions in new Annual Recurring Revenue and hundreds of enterprise customers. The new capital will be used to enhance the flagship platform and go-to-market partnerships.
From the meeting notes, the key takeaways are:
1. Silverfort, an Israeli late-stage startup, has successfully raised $116 million in a Series D funding round led by Brighton Capital, with participation from existing investors Acrew Capital, Greenfield Partners, Citi Ventures, General Motors Ventures, Maor Investments, Vintage Investment Partners, and Singtel Innov8.
2. The total funds raised by Silverfort now amount to $222 million, which the company believes validates its successful business growth, including the addition of tens of millions in new Annual Recurring Revenue (ARR) and hundreds of new enterprise customers from major industries such as financial services, manufacturing, and retail.
3. Silverfort plans to utilize the new capital to enhance its flagship platform by adding product modules and accelerating channel go-to-market partnerships.
4. The company’s technology focuses on Multi-Factor Authentication (MFA), Identity Threat Detection and Response (ITDR), Identity Security Posture Management (ISPM), and real-time protection for privileged users and service accounts.
5. Related news articles highlight Silverfort’s recent activities, including the open sourcing of a Lateral Movement Detection Tool and previous funding rounds of $65 million and $30 million to expand its agentless authentication platform.