Elisity is a self-proclaimed innovator that provides behavior-based corporate network security and has raised $26 million in Series A financing.
This round of financing was jointly led by Two Bear Capital and AllegisCyber Capital, the latter invested in a number of cybersecurity startups including Panaseer, and the previous seed investor Atlantic Bridge also participated.
Elisity, led by industry veterans from Cisco, Qualys, and Viptela, said the funding will help companies meet the growing demand for their cloud-delivered cognitive trust platform, which claims that the platform is the only one that is smart enough to understand assets and the platform for how people connect is beyond the scope of the company.
The platform is designed to help organizations transition from traditional access methods to zero trust, a security model based on maintaining strict access control and not trusting anyone-even employees-in the entire digital footprint by default. According to the company, this enables organizations to adopt a "work anywhere, anytime" model, and the company notes that most companies today continue to rely on physical location-based or low-level network structures (such as VLANs, IP and MAC addresses, and VPNs).
The company claims that cognitive trust can analyze the unique identities and environments of people, applications, and devices, including the Internet of Things (IoT) and operational technology (OT), no matter where they work. The company said that through its AI-driven behavioral intelligence, the platform can also continuously assess risks and immediately optimize access, connectivity, and protection strategies.
Bring CISOs into the C-suite to bake cybersecurity into company culture.
"CISOs are facing ever-increasing attack surfaces caused by the shift to remote work, reliance on cloud-based services (and often multi-cloud) and the convergence of IT/OT networks," said Mike Goguen, founder and managing partner at Two Bear Capital. "Elisity addresses all of these problems by not only enacting a zero trust model, but by doing so at the edge and within the behavioral context of each interaction. We are excited to partner with the CEO, James Winebrenner, and his team as they expand the reach of their revolutionary approach to enterprise security."
Elisity was founded in 2018. Its competitors include companies such as Vectra AI and Lastline. In August of the same year, it completed a $7.5 million seed round of financing led by Atlantic Bridge. Through the seed round of financing, Elisity began to expand the size of its engineering, sales and marketing teams to expand the scale before the platform was launched.
It is now seeking to expand to meet growing corporate needs, as many organizations switch to mixed work models and seek tools to help them protect their dispersed workforce.
"When the security boundary is no longer the network, we see a rare opportunity to develop the way companies connect and protect their people and their assets, from a strict network structure to identity and context as the basis for secure access," Winebrenner said.
"With Elisity, customers can avoid the complexities, costs, and lengthy timelines normally encountered by companies. We can serve new customers in as little as 45 minutes (instead of months or years) and transfer them to identity access strategy and expand "Over time, their cloud and local [ise] footprints do not need to dismantle and replace existing identity providers and network infrastructure investments. When we do this, we will not make a trade-off between employee productivity and network security.
Elisity is headquartered in California and currently has approximately 30 employees. However, there are no women in its current leadership team and board of directors.