Venice Security, formerly Valkyrie, has officially launched, securing $33 million in total funding, including a $25 million Series A round. The platform offers an adaptive privileged access management (PAM) solution designed to control and secure administrative accounts with elevated system access.
The company addresses the limitations of traditional PAM methods, which are ill-suited for today's fast-paced, cloud-native, and AI-accelerated enterprise environments. Venice Security emphasizes the principle of least privilege, aiming to drastically reduce the risk of credential theft and unauthorized data access.
"The way organizations manage access isn’t keeping up with how business operates today," stated CEO Rotem Lurie. "Access control needs to match that tempo."
Venice Security's approach focuses on real-time, ephemeral access that is granted only when needed and revoked immediately thereafter. This adaptive permission model is crucial for managing the complexities of human, machine, and AI identities across diverse systems, especially as attackers leverage AI for sophisticated threats.
This funding will accelerate the company's development and support its expansion into global enterprise markets, driving innovation in an industry rapidly adopting cloud and AI technologies.