Identity and access governance startup Clear Skye raises $14M
Identity and access governance startup Clear Skye Inc. announced today it has raised $14 million in new funding to expand its global footprint and continue reimagining the approach to enterprise identity governance and security.
Storm Ventures and Toba Capital led the Series A round, with Point Field Partners and Inner Loop Capital also participating. Including the new funding, Clear Skye has raised nearly $20 million to date.
Founded in 2015, Clear Skye sells a complete IAG solution that offers employee lifecycle automation, access requests, access certification and business intelligence. The company pitches itself as the only identity security and governance solution built natively on ServiceNow.
The company says that it reimagines enterprise identity access and risk management by enabling organizations to use a familiar interface, provide deeper identity control and insight, and build a bridge between the business and the information technology department. By reducing silos between functional areas such as human resources, IT, security operations and government risk management and compliance, the company says, the solution reduces friction, increases efficiency and accelerates time-to-value.
With identity lifecycle management, Clear Skye adds, its platform ensures that users can work efficiently with the right policy-driven security level of access. The company’s access request service is designed to reduce help desk and user frustration without knowing where to go and how to request access to business applications.
The access review service increases the speed and accuracy of attestation and offers visibility into and control over what levels of access are appropriate. The platform is topped with workflow management that uses the low-code/no-code ServiceNow Flow Designer.
Clear Skye has seen strong growth, with revenue increasing five times in 2021, though on an undisclosed base. Notable customers include ABB Ltd., West FraserTimber Co. Ltd., Blackhawk Network Hodlings Inc. and Premise Health Holding Corp.
“Today, workers have access to many more applications, which poses a challenge for identity and governance teams that are tasked with access control, managing compliance and monitoring individual and enterprise-wide threats,” Arun Penmetsa, a partner at Storm Ventures, said in a statement. “Clear Skye addresses this need through a modern platform without the pain of replacing legacy IT systems.”
Image: Clear Skye
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