We are thrilled to announce that we have expanded our Series A funding to $27M today, with Felicis leading the investment.
We’ve grown substantially since our initial Series A funding announcement in June 2022. We’ve added worldclass customers including DigitalOcean, Ramp, Loom, Panther, and DeepWatch to name a few. We’ve grown our team (the c1rew). We’ve built and launched new products, most recently our just in time access product. But we’re just getting started….
Our goal is to actually secure identity. We started ConductorOne because we saw that companies had SSO, they had IAM, they had MFA, they had their SOC2… yet identity is still a leading vector for breach. Clearly something isn’t working. At ConductorOne, we want to pursue a bolder vision of the future. The “swiss cheese” approach to identity solutions – i.e. each layer providing some coverage, but when holes line up, you’re left with major security gaps – is not a great model. We believe that to properly secure identity, you must solve the problem end to end: from discovery to permissions management and provisioning to threat detection. We’re taking the best parts of Identity Access Management (IAM), Privileged Access Management (PAM), Identity Governance (IGA), and Identity Threat Detection and Response (ITDR), and transforming it into one central platform to help our customers reach their security and compliance goals without sacrificing productivity. This is a market that we are defining as Identity Security Posture Management (ISPM). ISPM is a big vision, but we need big thinking to solve the identity challenge for the modern enterprise.
So how do we get there? One answer is clearly “products” – and we’re aggressively building and shipping new capabilities and products continuously. The other challenge, however, is connecting to all of the technology an organization uses. This is why we created Baton. Baton is THE identity security protocol. Baton is the open source fabric that allows any person or any platform to connect to a technology for the purposes of auditing identity and permissions, and orchestrating access changes. The ConductorOne service uses Baton to agentlessly connect to all of your SaaS and IaaS apps. What’s even more powerful, is that you can host Baton connectors in your own infrastructure to support hybrid or on-prem apps. You can also build your own Baton connectors for your backoffice or support portal using the SDK.
This additional Series A funding will allow us to run even faster towards this bold vision of the future. We partnered with Felicis to lead the additional $12 million investment because we were blown away by their security investment track record and connections. We also found a strong alignment and shared vision for how we want to build ConductorOne and disrupt the identity market. Their team is outstanding and we’re fortunate to have them as partners on this journey.
We’re also very excited to bring on notable new angels including Travis McPeak (CEO and founder at Resourcely), Anna Westelius (Director of Security Engineering at Netflix), Jason Chan (former Head of InfoSec at Netflix), Mark Hillick (Head of Security at Brex), Rohit Parchuri (CISO at Yext), Will Bengtson (Senior Director of Security Engineering at HashiCorp), Shubham Raj (Staff Security Engineer at Coinbase), and Tom Alcock (Founder at CodeRed Partners). Each of these investors brings deep security expertise and we’re fortunate to have them on team C1.
We are grateful for the unwavering support of our investors, customers, and partners, as we continue to innovate and re-think identity security. Together, we will pioneer the ISPM market to secure the workforce of the future.