PALO ALTO, Calif., Nov. 16, 2023 — SGNL.ai, an industry-defining Continuous Access and Authorization Management company, announced today that Cisco Investments has joined its strong syndicate of investors that includes Costanoa Ventures, Fika Ventures, Moonshots Capital, and Resolute Ventures.
The investment comes at a time when continuous access management is becoming increasingly important. As organizations adopt more cloud-based applications and services – more than 90% of companies currently use some cloud services – their security postures are becoming more complex. Traditional identity and access management (IAM) solutions are unable to keep up with the demands of modern organizations as demonstrated by the monthly cadence of security breaches.
SGNL’s platform helps companies achieve a Zero Standing Privilege (ZSP) security posture by continuously and contextually evaluating user access and authorizing access only when needed. This reduces the risk of data breaches and security incidents caused by compromised accounts or misuse.
“SGNL is the first company to address authorization challenges that enterprises experience at scale through Continuous Access Management and specifically by leveraging the industry standard Continuous Access Evaluation Protocol (CAEP). With increased frequency of session hijacking and credential theft, it is critical for companies to take a zero standing privilege approach across all surfaces, including application and data layers,” said Scott Kriz, CEO of SGNL. “We are thrilled to have Cisco Investments with us as we embark on the next phase of our growth.”
“Cisco continues to identify and support emerging security solutions to keep modern enterprises, their employees, and their data safe,” says Iva Blazina Vukelka, vice president, Cisco Security Business Group. “We view an investment in a Continuous Authorization Platform, like SGNL, as complementary to our overall posture in Identity Security, which already includes industry-leading solutions such as Duo Security and Oort.”
Built for the Enterprise
SGNL has deployed its platform for customers as a SaaS solution and in Azure and AWS VPCs globally. The enterprise grade platform enables customers to:
- Mitigate the risk of data breaches and other security incidents: SGNL’s zero standing privilege approach minimizes the blast radius of an attack.
- Reduce costs: Reduced security incidents translate to lower incident response costs, operational disruption, regulatory fines, and reputational damage.
- Expand revenue: SGNL’s customers have been able to open new markets through establishing zero standing access.
- Improve compliance with security standards and regulations: Businesses can better adhere to regulatory requirements, such as GDPR and HIPAA, by ensuring precise control and monitoring of user privileges.
- Increase operational efficiency: SGNL’s platform simplifies access management, making it easier for organizations of all sizes and industries.
About SGNL.ai, Inc
With an initial team of security experts and executives who formerly worked at Google, Microsoft, Okta and Salesforce, SGNL is working to modernize enterprise authorization. SGNL’s continuous access management platform provides zero standing access, protecting access to sensitive data and guarding against potential security compromises. SGNL was founded in 2021 with venture backing from Costanoa Ventures, Fika Ventures, Moonshots Capital, and Resolute Ventures. For more information about SGNL visit https://sgnl.ai.
SOURCE SGNL.ai, Inc.
