Saviynt Inc., a startup with an identity and access platform that helps enterprises secure their business applications, has raised $130 million to continue its recent revenue momentum.

The funding round was announced this morning. Saviynt says that the financing, led by HPS Investment Partners and PNC Bank, follows a year in which new product bookings from customers increased by 64%. Saviynt’s customers include VMware Inc., Toyota Motor Corp., Informatica Corp. and other large enterprises.

Saviynt provides software products that help companies manage the accounts that employees use to log into work applications. User accounts are a major target for hackers and, as a result, represent a significant source of cybersecurity risk in the enterprise. Saviynt’s products enable information technology teams to reduce risk by creating workflows that block malicious access attempts.

Saviynt makes it possible to implement just-in-time access, a practice whereby users are automatically logged out of an application after a certain amount of time. Limiting the duration of user sessions can help significantly reduce the amount of data that’s compromised if a hacker logs in.

For an added level of security, Saviynt makes it possible to limit the use of sensitive application features. Normally, employees who have access to sensitive features such as a workload’s cybersecurity settings can access them every time they log in. Saviynt makes it possible to set up accounts so that employees may access sensitive features only when they strictly need to use them.

The startup says its technology can make it easier for enterprises to implement the increasingly popular zero-trust model of application security. The zero-trust approach prevents hackers from accessing sensitive workloads even if they steal an employee’s login credentials.

According to Saviynt, its technology can enhance companies’ cybersecurity in multiple ways. The startup’s products are capable of regulating access not only to applications but also to data assets, such as business documents in a Dropbox folder. Saviynt also allows companies to enforce cybersecurity rules when they require the ability to make an application accessible for a third party such as a supplier.

Access permissions aren’t always tied to user accounts. Applications often also need the ability to access a company’s systems: A business analytics tool, for example, might require permission to download records from a company’s data lake. Saviynt can manage such workflows to ensure they don’t create opportunities for hackers to compromise sensitive information.

Saviynt targets its software at, among other organizations, companies building multicloud environments. The complexity of multicloud environments can make it difficult to ensure that cybersecurity rules are implemented consistently across every infrastructure platform a company is using. Saviynt says its software helps enforce access policies, as well as detect potentially malicious logins that may indicate a breach. 

“With our additional funding, we can meet that demand head-on by doubling down on product innovation, continuing our rapid global growth, and bringing Saviynt’s platform to new industries and regions,” said Saviynt Chief Executive Officer Amit Saha.

Saviynt has raised $170 million in funding to date including its latest funding round. 

Image: Saviynt