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New Startup Linx Security Tackles Identity Management with $33M Funding and AI Technology
Identity management has become a significant focal point for security breaches over recent years, often posing challenges for organizations to manage effectively. A new security startup based in Tel Aviv, Linx Security, is stepping up with innovative technology using AI and analytics to address this growing issue. Having operated under the radar with a slew of new customers, Linx has officially announced its launch alongside securing $33 million in funding to tackle identity management more aggressively.
Linx's funding arrives in two phases, indicative of its promising trajectory while in stealth mode. The most recent tranche amounts to $27 million, co-led by Index Ventures and Cyberstarts, following an initial $6 million led by Cyberstarts. The funding round also saw contributions from notable names in the Israeli security world, including Mickey Boodaei, Rakesh Loonkar, Assaf Rappaport, and Yinon Costica, alongside Cerca Partners and Knollwood Investment Advisory.
Linx Security was founded just over a year ago by Israel Duanis (CEO) and Niv Goldenberg (CPO), who first met during their service in the Israeli army's 8200 cyber unit. This unit is also known for producing numerous tech innovators, including the founders of Wiz. The duo's background in cybersecurity is extensive, with Duanis having worked at Checkpoint Software and Goldenberg at Adallom, Microsoft, and Transmit.
Duanis, who also ventured into the automotive technology industry with Fleetonomy, felt a persistent pull towards the security domain. Reflecting on his career, he observed a significant gap in the management of identity (ID) security. "Access management and permissions were traditionally seen as IT issues, but many recent attacks are ID-driven," Duanis noted. High-profile breaches highlight how ungoverned credentials are ripe for exploitation by malicious hackers.
The Linx platform aims to mitigate these risks by leveraging AI and analytics to create a comprehensive map of an organization's identity landscape. As businesses engage with numerous apps and systems, they often accumulate outdated or unused identity information, which can become vulnerabilities. Linx’s technology scans these identities, linking them to active employees, and helps to identify and remove redundant accounts. This process not only secures the system but also enhances compliance and operational efficiency.
Duanis emphasizes that while AI is often touted in tech, Linx's application of it is precise and impactful. “AI is overused as a term,” he stated, “but our ability to rapidly process and analyze network data to offer suggestions and automate security measures creates a substantial impact.” Typically, the identification and elimination of ungoverned identities, which could take months, can now be achieved in mere hours.
Gili Raanan of Cyberstarts recognized Linx's potential early on, closing the seed deal within 24 hours of Duanis sharing his vision. "Identity is the top threat vector for the modern enterprise,” Raanan remarked. He acknowledged the struggle identity teams face under Chief Information Security Officers (CISOs) due to an increasing workload and outdated solutions, underscoring the necessity for Linx's advanced approach.
