Linx Security Emerges from Stealth with $33M in Funding to Revolutionize Identity Security and Governance
QUICK TAKE
- Linx Security addresses the blind spots and gaps of traditional identity tools to redefine how organizations secure and manage identities across complex digital landscapes.
- The company has announced $33 million in funding led by Index Ventures, with additional investments from Cyberstarts’ Gili Raanan and founders from Wiz and Transmit.
- The funding comes as organizations are increasingly threatened by identity-based security risks while needing to manage ever-evolving regulatory landscapes.
- The technology maps and monitors the relationships between users, their identities, and their access permissions, before using advanced analytics and automation to allow companies to shrink their attack surface, achieve compliance, and streamline operations.
INDEX PERSPECTIVE
By Shardul Shah and Juriaan Duizendstraal, Partners at Index Ventures
The rise of distributed work in the cloud era has made identity one of the most important pillars of security. But despite its key role in today’s security landscape, decades-old Identity and Access Management (IAM) tools have struggled to keep pace.
Identity Governance & Administration (IGA) is a must-have solution but it’s highly disliked: it’s clunky, expensive and the integration processes are extremely long. IGA for the cloud era remains unsolved and is a significant opportunity; identity is often likened to “the keys of the castle.” It takes a strong vision and a bias towards execution to compete in this space, and that’s why we were so excited to meet with Linx Security’s co-founders, Israel Duanis and Niv Goldenberg.
We felt the chemistry instantly. We’d previously met Israel about five years ago, and continued to hear repeated, unsolicited feedback from across our network, portfolio companies, and respected CISOs that this is one of the most exceptional co-founding teams around. Israel and Niv – who are graduates of the elite Talpiot program that also counts two Wiz co-founders as past recruits – are extremely driven to succeed. They’ve both led critical security projects within the IDF and bring deep product and tech execution to the table. As leaders, Israel’s pragmatism and conviction paired with Niv’s charisma and high bar for excellence have already drawn incredible talent to the team.
From day one, Linx was built with CISOs, security and compliance teams, and employees in mind. While incumbents have struggled to transition to the cloud, Linx is transforming identity from a necessary evil into a seamless, secure partner. Israel and Niv’s ambition is palpable, and we are incredibly excited to support their vision as the company makes identity a straightforward – rather than dreaded – piece of the security puzzle.
THE DETAILS
Identity security is one of the biggest challenges facing companies and organizations today. More than 90% of businesses say they responded to an identity-related incident in the past year, while three-quarters consider managing and securing digital identities a top three security priority, according to a 2024 Identity Defined Security Alliance (IDSA) report.
The recent Snowflake breach is a prime example of the potential damage, with hackers gaining access to data held by up to 165 Snowflake clients including Live Nation, Santander Bank, and AT&T. Hundreds of millions of customers were affected, making it one of the largest data breaches ever.
At the same time, managing identity data is becoming increasingly difficult, with 9 out of 10 companies expressing concern about how the latest privacy regulations will impact their identity security policies.
Linx Security is working to solve these challenges. Redefining how organizations secure and manage identities across complex digital landscapes, Linx eliminates the blind spots and gaps inherent to traditional identity tools. The technology maps and monitors the relationships between users, their identities, and the access and permissions each holds. It then uses advanced analytics and automation to enable organizations to effortlessly shrink their attack surface, achieve compliance, and streamline operations across the entire lifecycle of users and identities.
In one case, Linx detected ungoverned access to a client's code repository. Starting by identifying all accounts and linking them to their human owners, Linx was able to assess each user's permissions and risk level. This revealed a former employee's unsecured access, which Linx promptly revoked, reducing the organization's attack surface and improving security.
“Identity security is one of the urgent cybersecurity pain points organizations struggle to address in today’s fast-paced business environment,” explains Israel Duanis, Linx Security’s co-founder and CEO. “Our platform empowers organizations to navigate the complexities of identity security and governance with confidence, ensuring they stay ahead of evolving threats and regulatory requirements.”
Founded by Israel Duanis along with CPO Niv Goldenberg in 2023, both founders are experienced cybersecurity executives with proven track records spanning over 25 years. Before launching Linx, Israel co-founded Fleetonomy, an AI-driven fleet management solutions platform that was acquired by Via in 2020. He also led the threat prevention line of business at CheckPoint Security. Niv’s last role before co-founding the company was VP Products at Transmit Security, which during his tenure doubled its ARR.
Today, Linx Security emerges from stealth, announcing $33 million in funding led by Index Ventures and Cyberstarts. Supporting investors include founders from Wiz and Transmit.
“Linx Security represents a pivotal advancement in identity security solutions that’s poised to redefine how organizations safeguard their digital assets,” says Shardul Shah, partner at Index Ventures. “With a visionary leadership team and innovative technology, they are well-positioned to lead the industry in mitigating evolving cyber threats.”
Published — July 22, 2024
