Veza Inc., a startup that helps enterprises regulate employee access to business applications, has raised $108 million from investors to enhance its technology.

The investment was announced today. New Enterprise Associates led the Series D round with participation from the venture capital arms of Salesforce Inc., Workday Inc. and Atlassian Corp. They were joined by more than a half-dozen other investors including Alphabet Inc.’s GV startup fund.

The more internal systems are accessible to an employee account, the more data hackers can steal if they compromise that account. To minimize the impact of breaches, administrators must only give employees access to the applications they strictly require for their work. In practice, however, applying such restrictions consistently can be difficult at a large organization with thousands of workers.

Veza promises to ease the task. The Redwood Shores, California-based startup provides a platform that can automatically scan a company’s applications to determine which user has access to what resources. Veza visualizes this information in a graph that helps administrators spot misconfigured access permissions.

A company might have a policy that specifies only members of the cybersecurity team may change database settings. Using Veza, administrators could find accounts that have permission to change database settings but don’t belong to cybersecurity staff. The platform includes a search bar that makes it possible to browse user accounts with natural language prompts.

In a large organization, access permissions are regularly added and removed. Administrators can configure Veza to generate an alert if an account receives access to a system in breach of internal rules. The platform likewise spots accounts that have correct access permissions, but aren’t actively used and therefore represent an unnecessary cybersecurity risk.

Companies create accounts for not only employees but also applications. A revenue forecasting tool, for example, might require an account in a sales database to access the transaction logs it holds. Administrators can use Veza to find such accounts in the corporate network and remove them when they’re no longer needed.

The company’s funding milestone today follows a year in which its annual recurring revenue more than doubled. Veza says that it added 10 Fortune 500 customers, while existing users boosted their spending significantly. The software maker now manages more than 20 billion access permissions across its customer base.

Veza will invest the new capital in a go-to-market initiatives. Additionally, the company plans to add new features for tasks such as managing artificial intelligence agents’ access to applications and data. Veza, which is now valued at $808 million, plans to hire 30 to 40 employees every quarter through the end of 2025 to support its growth efforts. 

Image: Veza