Oleria, a startup specializing in access management solutions for enterprise clients, has successfully raised $33 million in a Series A funding round. The investment was led by Evolution Equity Partners, with contributions from Salesforce Ventures, Tapestry Ventures, and Zscaler.
Key Takeaway
Oleria secures $33 million in Series A funding to develop its innovative platform for access management, addressing the critical need for balancing cybersecurity and business agility within enterprises.
Founders and Vision
Founded in 2022 by Jim Alkove and Jagadeesh Kunda, Oleria aims to address the challenge of delivering robust cybersecurity measures while ensuring that business partners can operate efficiently. Alkove, a former Microsoft CVP and the former “chief trust officer” at Salesforce, expressed his long-standing concern about the insecurity of app and data access due to over-provisioning and complex governance. He emphasized the need for an adaptive and autonomous approach to access, providing the right level of access at the right time without hindering business agility.
Platform Overview
Oleria’s platform offers a solution that restricts users’ access to digital assets within an organization, such as specific applications. Additionally, it identifies erroneously-granted permissions and unintended access, providing recommendations to mitigate access-related risks. While the platform is not yet generally available, Oleria plans to launch it later this year, pending a successful pilot with select prospective customers.
Competitive Edge
According to Alkove, Oleria’s primary competitor is the existing status quo. He highlighted the significant time and resources spent by CISOs and their teams in combating access-related cyber breaches using legacy systems and manual administration. Oleria’s team, with their extensive experience in building and managing enterprise security solutions, possesses a unique understanding of these challenges and aims to provide effective solutions.
