Linx Security Emerges From Stealth With $33M in Funding to Revolutionize Identity Security and Governance

NEW YORK, July 22, 2024 (Newswire.com) - Linx Security, a pioneer in modern identity security and governance solutions, emerged today from stealth and announced that it has raised $33 million in funding. The round was led by Index Ventures and Cyberstarts, with investors also including entrepreneurs Mickey Boodaei (Imperva, Trusteer, Transmit) and Rakesh Loonkar (Trusteer, Transmit), as well as Cerca Partners and Knollwood Investment Advisory.

Founded in 2023 by Israel Duanis (CEO) and Niv Goldenberg (CPO), Linx Security emerged with a mission to redefine how organizations secure and manage identities across complex digital landscapes. Both Israel and Niv are experienced cybersecurity executives with proven track records spanning over 25 years. Before founding Linx, Israel co-founded Fleetonomy, a pioneering AI-driven fleet management solutions platform, which was acquired by Via in 2020 and led the threat prevention line of business at CheckPoint Security. Niv’s last role before co-founding the company was VP Product at Mickey Boodaei’s Transmit, which during Niv’s tenure doubled its ARR. 

The 2024 Verizon Data Breach Investigations Report (DBIR) revealed that more than half of all breaches involve a human element, accounting for 68% of incidents. The 2024 Identity Defined Security Alliance (IDSA) Report found that 84% of organizations have experienced an identity-related security breach, with 78% facing direct business impacts as a result. The recent Snowflake breach serves as a prime example of the potential damage, as hackers gained access to the accounts of up to 165 Snowflake customers by exploiting stolen customer credentials, possibly marking it one of the largest data breaches ever.

“Identity security is one of the urgent cybersecurity pain points organizations struggle to address in today’s fast-paced business environment," said Israel Duanis, CEO of Linx Security. "Our platform empowers organizations to navigate the complexities of identity security and governance with confidence, ensuring they stay ahead of evolving threats and regulatory requirements."

Linx Security's cutting-edge technology eliminates the blind spots and gaps inherent in traditional identity tools. Linx maps and monitors the relationships between users, their identities, and the access and permissions they have to company data and resources, and uses advanced analytics and automation to enable organizations to effortlessly shrink their attack surface, achieve compliance, and streamline operations across the entire lifecycle of users and identities. In one case, Linx detected ungoverned access to a client's code repository. By identifying all accounts and linking them to their human owners, Linx assessed each user's permissions and risk level. This revealed a former employee's unsecured access, which Linx promptly revoked, reducing the organization's attack surface and improving security.

"Identity is the top threat vector for the modern enterprise. Identity teams under the CISO, are struggling to cope with a growing number of tasks and suffer from antiquated legacy solutions. The highly motivated and accomplished Linx team will undoubtedly leverage their vast experience, creativity, and vision to tackle that" said Cyberstarts' Founder, Gili Raanan. "We are proud to partner with Israel and Niv from day zero, on their journey to build Linx."

"Linx Security represents a pivotal advancement in identity security solutions, poised to redefine how organizations safeguard their digital assets,” said Shardul Shah, Index Ventures Partner. “With a visionary leadership team and innovative technology, they are well-positioned to lead the industry in mitigating evolving cyber threats."

About Linx Security:

Linx Security is at the forefront of transforming identity security with an innovative platform that addresses the limitations of traditional identity tools. By continuously minimizing the attack surface and mitigating compliance vulnerabilities, Linx Security helps organizations protect identities in real-time, aligned with the dynamic pace of business operations. Offering comprehensive visibility of all identities, along with advanced threat detection and automated remediation, Linx ensures effective identity management and governance. The platform's precise insights and actionable recommendations enhance security posture while streamlining operations.

For more information about Linx Security and its innovative solutions, please visit www.linx.security.

Source: Linx Security