Akeyless secures strategic investment from Deutsche Bank

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Oct 29, 2024, 08:59 ET

The new investment follows the recent launch of the industry's first Unified Secrets & Machine Identity Platform to address the #1 cause of breaches

NEW YORK and TEL AVIV, Israel, Oct. 29, 2024 /PRNewswire/ -- Akeyless, an innovator in the identity security market, announced today a strategic investment from Deutsche Bank's Corporate Venture Capital (CVC) group.

Akeyless co-founders L to R: Oded Hareven, Shai Onn, and Refael Angel. Credit: Akeyless

Identity is now the leading threat vector and the weakest link in enterprise security strategies. In today's modern multi-cloud environments, non-human identities of machines – like applications, automated processes and scripts – far outweigh human identities. These machines use secrets like credentials, certificates, and keys to securely communicate with each other. The reality in enterprises today is that it takes multiple tools across many categories and vendors to effectively and efficiently manage secrets and machine identities.

"According to data we compiled, enterprises are using more than 12 tools across 15 categories and 75 vendors for secrets and machine identity management. This not only increases cost and complexity but also weakens the enterprise security posture," said Oded Hareven, Co-founder and CEO of Akeyless Security. "The strategic investment from Deutsche Bank will accelerate our mission to prevent breaches by empowering enterprises with enhanced control, visibility, and security for efficient management of their secrets and machine identities."

"We welcome Akeyless as the latest addition to Deutsche Bank's CVC portfolio," said Joerg Landsch, Head of Central Corporate Venture Capital, Deutsche Bank. "Our focus is on strategic corporate venture capital investments in startups that use technology to either support and enable innovative services, or increase productivity of processes. We commit capital, expertise, access and resources to our strategic investments to enable growth and success."

This collaboration marks a critical milestone for Akeyless and reflects Deutsche Bank's commitment to support high growth startups addressing today's emerging cybersecurity challenges.

For more information on how Akeyless is securing the future of secrets and machine identity management, visit Akeyless.io.

About Akeyless

Trusted by Fortune 100 companies and industry leaders, Akeyless is redefining identity security for the modern enterprise, delivering the world's first unified Secrets & Machine Identity platform designed to prevent the #1 cause of breaches - compromised identities and secrets. Backed by the world's leading cybersecurity investors and global financial institutions including JVP, Team8, NGP Capital and Deutsche Bank, Akeyless Security delivers a cloud-native SaaS platform that integrates Vaultless Secrets Management with Certificate Lifecycle Management, Next Gen Privileged Access Management (Secure Remote Access), Encryption and Key Management Services (KMS) to manage the lifecycle of all non-human identities and secrets across all environments.

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SOURCE Akeyless