Apono, a prominent provider of cloud-based privileged access management solutions, has successfully concluded its Series A investment round, raising $15.5 million. The funding round was led by New Era Capital Partners, with additional participation from Mindset Ventures, Redseed Ventures, Silvertech Ventures, and early seed investors.
This round marks a significant milestone for Apono, bringing its total funding to $20.5 million – a testament to the confidence investors have in the company’s potential and the growing demand for secure, scalable access management in cloud environments.
Apono’s primary mission is to offer AI-powered, secure, and innovative solutions that enable businesses to manage access in increasingly complex and distributed cloud environments. The fresh capital infusion will be directed toward accelerating product development, driving company growth, and reinforcing its leadership in the identity security sector. As cloud infrastructures continue to expand, Apono aims to provide businesses with cutting-edge solutions that address modern access governance challenges while maintaining robust security without compromising user experience.
CEO and co-founder Rom Carmel highlighted the shift taking place in the identity security landscape, particularly in the context of cloud environments. “We are seeing a shift in the identity space today more than ever,” he noted, emphasizing the growing need for comprehensive solutions that merge access control with identity governance. Mr. Carmel explained that the Series A funding will enable Apono to maintain its momentum and deliver advanced security solutions as the company continues its rapid expansion. He credited Apono’s innovative, AI-driven approach and the strong uptake of its products by enterprises as key factors that attracted investor attention.
Boost Apono’s R&D Investment
Apono’s cloud access governance platform would offer a unique approach by combining AI with least privilege and anomaly detection capabilities. These features provide enterprises with a clear understanding of privileged access across their cloud environments, enforcing stringent security protocols while ensuring that end users experience minimal friction. This allows organizations to maintain a secure environment without hindering productivity, a crucial factor in today’s fast-paced, cloud-driven workspaces.
The funding comes at a time of rapid growth for Apono, which reported a 300% revenue increase over the past three quarters. This growth has been accompanied by strategic hires of industry leaders, bolstering the company’s market position and enhancing its ability to serve a growing customer base. With plans to significantly expand its U.S. sales and marketing teams, Apono also intends to increase its investment in research and development to bring new AI-based access products to market.
The company’s customer success and sales engineering teams have also expanded in the U.S., ensuring that enterprise clients receive the necessary support for seamless onboarding and continuous assistance. These efforts aim to meet the demands of a fast-growing customer base, which includes some of the world’s leading enterprises. Apono has also developed enterprise support teams dedicated to addressing the specific needs of large corporate clients, offering the level of care and precision that modern businesses require in managing cloud access.
Ziv Conen, a partner at New Era Capital Partners, expressed confidence in Apono’s future, stating, “We are thrilled to support Apono in their mission to revolutionize identity and access security.” He highlighted the importance of Apono’s technology in addressing critical challenges in cloud access management, noting that their scalable solutions are well-positioned to lead the market. Conen underscored the firm’s commitment to supporting Apono as it continues to innovate and deliver exceptional customer service in an increasingly competitive industry.
Global Multi-Cloud Platform
The impact of Apono’s technology is already being felt by its clients, such as Hewlett Packard Enterprise (HPE). Arthur Goren, HPE’s Director of Cloud Engineering, praised Apono’s platform for its ability to provide seamless integration and uphold a least-privilege cloud environment, which is essential for meeting the company’s security and compliance requirements. “In just a few minutes, we were able to self-service Apono, greatly increasing client confidence in our worldwide multi-cloud platform,” said Goren. He also noted that the platform ensures teams can operate without hindrance, enhancing both efficiency and productivity.
Apono’s solutions are designed to address the evolving challenges of identity and access management in the modern cloud environment. By bridging the gap between security and operational teams, Apono enables enterprises to implement just-in-time, just-enough access controls at scale. The company’s commitment to innovation and customer satisfaction positions it to transform the way businesses manage access and security in today’s rapidly changing digital landscape.
Katie Norton, Research Manager for DevSecOps and Software Supply Chain Security at IDC, reinforced the importance of Apono’s approach. “Forward-thinking organizations are increasingly aligning the goals and workflows of their security and engineering teams in response to the growing complexity and security threats associated with cloud adoption,” said Norton. She noted that privilege management and cloud identity are core components of these alignment efforts, and Apono’s approach helps bridge the gap between engineering and security departments, driving better outcomes for modern enterprises.
