Grip Security Raising $41 Million Series B Led by Third Point Ventures | The Antlers American | …
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SaaS security leader plans to accelerate growth and extend its market leadership Grip Security , a leader in SaaS identity risk management, today announced it is raising $41 million in Series B funding led by Third Point Ventures , with participation from YL Ventures , Intel Capital and The Syndicate Group .In todayâs rapidly transforming IT landscape, managing SaaS identity risks holistically has become a pressing need for chief information security officers (CISOs) and Grip Security is uniquely positioned to address this critical challenge with its groundbreaking platform.View the full release here: https://www.businesswire.com/news/home/20230822690615/en/ Grip Security Raising $41 Million Series B Led by Third Point Ventures (Photo: Business Wire) The current economic environment is causing companies to reevaluate their cybersecurity budgets, but SaaS identity risk management continues to be a critical area of investment.âThe company has important competitive contracts with some of the most demanding enterprises and that is a compelling demonstration of why we think Grip will be a sustainable leader in this growing segment.â âItâs easy to connect Gripâs incredible velocity to the ubiquity of SaaS applications and the way it exacerbated the SaaS-Identity attack surface,â said Ofer Schreiber, senior partner at YL Ventures, a longtime investor in Grip Security.âWith Grip Securityâs unique approach and emphasis on identity as the key control point, businesses are able to embrace SaaS adoption securely and feel confident that their data is protected.â Since its founding in 2021, Grip Security has been on an extraordinary growth trajectory.âUsing apps like OpenAI and other generative AI SaaS tools creates huge risks and the Grip platform provides my team the ability to discover and secure the use of these apps.â âWe are excited to continue driving growth for Grip Security by leveraging our strategic ecosystem of more than 450 channel partners,â said Chad Cardenas, CEO of TSG.
Link: http://business.theantlersamerican.com/theantlersamerican/article/bizwire-2023-8-22-grip-security-raising-41-million-series-b-led-by-third-point-ventures