Access governance solutions provider Pathlock has landed a $200 million investment round as it finalized an agreement to merge with ERP data security firm Appsian and SAP governance, risk, and compliance management vendor Security Weaver, reports VentureBeat.
With the merger, Pathlock is expected to be at the forefront of the access governance market as it offers a consolidated application security, automated data control, and access governance tool, as well as ensures continued compliance with increasing regulations around the world.
"We estimate the global market for control testing, enforcement and compliance services is nearly $100 billion per year. The cost to each company of reaching SOX compliance alone can be $2 million or more annually. Pathlock automates the manual and disconnected processes associated with providing financial and data controls for business applications," said Pathlock President Kevin Dunne, who also touted that its solutions seek to provide complete access visibility and protection not present on key competitors.