Cloud Security, Security Program Controls/Technologies

Funding round lands $65M for SaaS secrets management platform Akeyless

Software-as-a-service secrets management provider Akeyless has secured $65 million in a Series B funding round, TechCrunch reports. Newly raised investment will be allocated toward strengthening product development, sales, marketing, and customer service efforts, according to Akeyless co-founder Oded Hareven. "This will allow us to navigate the current economic climate and continue to provide our much-needed solution to the market," said Hareven. System, app, and data certificates, credentials, and keys are being encrypted and signed by the Akeyless secrets management platform through cryptographic operations involving encryption key fragments across various cloud providers and regions. Secret centralization is also being conducted by Akeyless's offering through plugins for existing capabilities and tools. "While modern secret management solutions address the security challenges of [development] environments, many organizations are still forced to rely on siloed and disconnected tools for securing secrets in legacy environments. Our customers are expressing a need for the convergence of legacy tools to reduce risks and improve compliance across all environments and use cases," added Hareven.

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