Cloud permission management startup Apono Inc. revealed today that it has raised $15.5 million in new funding to accelerate product development and advance its mission of providing artificial intelligence-driven secure solutions that help organizations manage distributed cloud environments.

Founded in 2022, Apono offers a Cloud Privilege Access platform that gives companies just-in-time and just enough privilege access to help them operate in the cloud by bridging the operational security gap in access management. The company’s platform helps organizations work faster and more securely through self-service, secure and scalable access controls.

Apono delivers capabilities that support development, operations and security teams responsible for securing and maintaining the cloud environments they depend on. The company says its approach provides organizations with a deep understanding of privileged access within their cloud environments, enforces robust security guardrails and leverages AI-driven least privilege and anomaly detection capabilities to enhance security measures, all while providing a frictionless experience for users.

“Today, more than ever, we are seeing a shift in the identity space,” said co-founder and Chief Executive Rom Carmel. “Privileged access management and identity governance are converging, driving the need for more holistic identity and access security solutions, particularly within today’s dynamic cloud environments in which modern businesses operate.”

Apono has seen strong interest in its offering, recording a 300% increase in revenue in the last three quarters off an undisclosed base and has also seen its sales and engineering teams in the U.S. triple in size. Notable customers include OpenWeb Technologies Inc., Jasper AI Inc., Intel Corp., Instashop DMCC and Hewlett Packard Enterprise Co.

“We were able to self-service Apono in minutes, which significantly enhanced customer trust in our global multi-cloud platform,” said Arthur Goren, director of cloud engineering at HPE. “This seamless integration allows our teams to work without friction, ensuring efficiency and productivity.”

With the new funding, Apono is set to expand its U.S. sales and marketing teams further while also expanding investments in research and development. The company also plans to roll out new AI-based access product offerings and improved support from Apono’s sales engineering and customer success teams.

New Era Capital Partners LP led the Series A round, with participation from Mindset Ventures, Silvertech Ventures and initial seed investors. Including the new funding, Apono has raised $20.5 million to date.

Image: Apono