After Rigorously Evaluating the Non-Human Identity Space, SVCI (Silicon Valley CISO Investments) Chooses to Back Token Security

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Sep 18, 2024, 09:00 ET

The leading CISOs investment group, SVCI, ventures into the non-human identity space, selecting Token Security after an in-depth review of a dozen startups. Token Security, having emerged from stealth just six months ago, continues its rapid growth trajectory.

TEL AVIV, Israel, Sept. 18, 2024 /PRNewswire/ -- Token Security, a leading solution in non-human identity security, has announced an investment from SVCI (Silicon Valley CISO Investments), an investment syndicate comprised of some of the world's top Chief Information Security Officers (CISOs) from companies such as Adobe, Elastic, Coinbase, Chime, Ross Stores, NYSE, and Booking.com. SVCI backs innovative early-stage cybersecurity startups and supports them in their journey.

"As AI adoption, cloud environments, and automation use-cases grow, non-human identities like API keys, OAuth tokens, service accounts, and other secrets are increasingly being targeted in cyber attacks. As a result, a non-human identity (NHI) solution is becoming an essential tool for modern IT and Engineering environments and a crucial part of every company's security program," said Chad Kalmes, CISO at Udemy.

According to Microsoft research, non-human identities now outnumber humans by 10 to 1. These non-human identities are often scattered, overprivileged, and unmanaged, making them easy targets for attackers and increasing the risk of data breaches.

"At SVCI, we conduct thorough due diligence on all possible investments before we invest. This includes, but is not limited to, evaluating the product, go to market strategy, investment opportunity and the team. Token Security addresses a critical issue faced by companies - the growing threat introduced by non-human identities. Our experience shows that teams need non-human identity accountability, automated remediation, and actionable insights to manage these risks, and Token Security excels in meeting this demand." Brian Kerr, Vice President of Security and Trust at Klaviyo

Token Security's leading solution secures all types of non-human identities running in the cloud. It provides cloud and operations security teams with comprehensive visibility and discovery, regardless of where these identities exist in your environment. The solution enables teams to strengthen their security posture, mitigate real-time risks based on criticality, streamline lifecycle management, apply automated remediation workflows, and leverage security context to address issues more effectively.

Token Security's solution minimizes the operational burden and security risks faced by cloud and security operations teams when managing non-human identities, including rotating keys for unmanaged accounts, detecting critical risks, and managing the lifecycle of non-human identities.

"Token Security proved value within 24 hours of the simple integration and has increased its value to us on a weekly basis. It gives us clear visibility into non-human identity risks and provides actionable insights to address issues effectively. Within the first two weeks, Token made it possible to reduce our machine and human identity risk by 40 percent. More than any other solution I've worked with, it gave our team immediate, actionable remediations to perform, which we did with ease. Unlike other solutions, it cuts through the noise and delivers the necessary details without being overwhelming." Jonathan Jaffe, CISO at Lemonade

"We're excited to partner with SVCI, a group of the top CISOs in the world today," said Itamar Apelblat, CEO and Co-founder of Token Security. "Their decision to invest in Token Security confirms the demand for advanced non-human identity solutions and reinforces the strength of our product, team, and vision. We're eager to continue driving forward with such strong support."

Token Security was founded in 2023 with a vision to secure identities, starting with non-human identities first. To date, the company has raised $7.5 million in a seed investment round led by TLV Partners, Shlomo Kremer, co-founder and CEO of Cato Networks, and Kevin Patrick Mahaffey, founder of Lookout. Token Security is also backed by leading advisors such as Rene Bonvanie, CMO Emeritus of Palo Alto Networks, and Jesse Rothstein, co-founder of ExtraHop Networks.

Token Security is hiring across all departments, including engineering, product, operations, sales, and marketing. More information on open positions can be found at Token.security.

About Token Security

Token Security is a leading provider of non-human identity security solutions, specializing in automatically securing any type of non-human identity across any system and environment at scale. Token Security's solution empowers teams to manage lifecycles, maintain secure postures, gain comprehensive visibility, and enforce least privilege—all through a centralized dashboard. Token Security was founded by 8200 security experts Itamar Apelblat and Ido Shlomo and is backed by TLV Partners and industry veterans like Kevin Patrick Mahaffey, founder of Lookout, and Shlomo Kremer, co-founder and CEO of Cato Networks.

About SVCI

SVCI is an invite-only community of 60+ Chief Information Security Officers (CISOs) that operate as an angel investor syndicate. With a vast representation of industries, locations, and 1000+ years of cumulative cybersecurity expertise, the organization's mission is to fuel the next generation of cybersecurity innovation by identifying promising early-stage startups, investing in them, and using its unmatched industry expertise to help them thrive. For more information www.svci.io

Adi Chemoul
VP Marketing
[email protected]

SOURCE Token Security