Stack Identity, a software company that offers solutions to automate identity and access management (IAM) raised $4 million to detect shadow access. The company will begin working towards eliminating shadow access with the amount raised in seed funding to solve the problem of unauthorized access to the cloud environment. The patent-pending algorithm will aim to detect and offer insights into invisible shadow access.
The patent pending Breach Prediction Index (BPI) algorithm prevents cloud vulnerabilities and offers better IAM audits.
The Founder and COO of the U.S.-based company Ambrish Deshpande said, “Businesses of all sizes can now benefit from Stack Identity’s automated breach detection leveraging advanced heuristics that continuously detects and removes bad actors from cloud environment.”
Stack Identity to put $4 million to detect shadow access
Cloud data threat vectors that are preventable will now be monitored 24/7 with the $4 million to detect shadow access. Stack Identity announced the closing of the seed funding round in collaboration with WestWave Capital LLC and Benhamou Global Ventures.
Access to the cloud is of critical importance as it exposes data stored across systems around the globe. Not knowing who accessed the data and for what duration exposes the data to risk which can be eliminated with the new algorithm that Stack Identity will work on with the seed funding of $4 million to detect shadow access.
Through this project, it will be easier to monitor complex data sharing via applications and services that left a loophole for hackers to exfiltrate sensitive data. The access layer that defines who accesses what and for how long will be attainable with this initiative.
Deshpande narrated how India’s Prime Minister MrNarendra Modi spoke about cyber security as a common concern among world leaders.
Speaking about India as a country with a skill-based workforce that can export cybersecurity services abroad, Deshpande said, “India is not only a critical market for Stack Identity but a vast talent pool that would support our global customer base while strengthening our commitment to India.”
Gaurav Manglik, General Partner at Westwave Capital expressed his confidence as an investor by reiterating on the need to secure the untenable problem in the cloud due to the proliferation of automated and human identities.
“As we accelerate into an Enterprise 4.0 world, Stack Identity is primed to emerge as a future market leader in the IAM space as enterprises accelerate digital transformation initiatives..,” said Yashwanth Hemaraj, Partner at Benhamou Global Ventures.
Stack Identity, Inc was founded in 2020 and is based in Menlo Park, California. It offers a live attack map of cloud identity access to strengthen cloud security.