Silverfort, the leading identity protection company, today celebrates raising $116M in series D funding, bringing the total amount raised to $222M. Brighton Park Capital (BPC) led the round, with participation from existing investors including Acrew Capital, Greenfield Partners, Citi Ventures, General Motors Ventures, Maor Investments, Vintage Investment Partners, and Singtel Innov8. Mike Gregoire, founding Partner at BPC and former CEO of CA Technologies and Taleo, will join Silverfort’s Board of Directors as the company scales and continues its journey to transform and lead the identity security market.

The investment follows another record year of more than 100% growth where Silverfort added tens of millions in new Annual Recurring Revenue (ARR), and hundreds of new enterprise customers, including the largest global financial services, manufacturing, and retail companies. Ranked as the #1 Best Startup Company to Work For in Israel for the second consecutive year, Silverfort intends to grow its global team, already located across more than 15 countries and will use the additional funds to expand its platform with new innovative product modules and accelerate its go-to-market strategy with an emphasis on channel partnerships.

Compromised identities and credentials are the #1 tactic for cyber threat actors and ransomware campaigns to not only break into organizational networks but to spread inside networks. A core reason identity is the most vulnerable element in the enterprise attack surface, is the market misperception that Identity and Access Management (IAM) providers—who are in charge of managing identities—are capable of securing identities. In reality, they are not in a position to secure identity effectively, due to two major limitations:

1. The migration to hybrid and multi-cloud environments resulted in fragmented, complex enterprise environments: 92% of companies are forced to use a combination of cloud-native and on-prem identity solutions, often from multiple vendors. Each of these solutions operates as a ‘silo’, with its own local security controls, without understanding the broader context of the user’s activity and without any consistent enforcement across the organization.  
2. Many critical resources found at every company cannot be protected by IAM and identity security solutions. Resources such as command-line interfaces (used in most data breaches), legacy systems, service accounts (non-human identities), file shares and databases, IT/OT infrastructure, amongst others, are regularly used by attackers as the easiest way to access sensitive networks and avoid the existing security controls.

Silverfort spent years purposely designing its platform to eliminate the silos and blind spots that identity security suffered from for many years, which no other solution has managed to address so far. The platform extends modern identity security measures to every enterprise resource, on-prem and in the cloud, including systems that no other solution can protect, effortlessly and instantly. It enables 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 —an attacker’s prime target. By enabling these modern identity security controls holistically, even for previously unprotectable assets, customers can stop identity-based attacks everywhere (including by some of today’s most dangerous threat actors) and comply with regulations and cyber insurance requirements.

“Silverfort is one of the rare companies that has successfully envisioned how a large market will need to transform to solve a tough problem – in this case, identity security,” said Mike Gregoire. “The company has a track record of building innovative products at scale that exceed customer expectations, combined with excellent go-to-market execution. Silverfort’s deep market expertise and vision for the identity security market, as well as their ability to build a winning team and culture, are second to none. We’re thrilled to join Hed, Yaron, and the rest of the Silverfort team on the next phase of their journey to not only reshape the identity security market but lead it.”