Silverfort, a cybersecurity company specialized in identity threat protection solutions, has been recognized as a Gartner Cool Vendor for 2021.
On March 10th, Silverfort announced that it has raised $65 million in growth financing to extend its identity threat protection solution. This news follows a series of successful investments by Silverfort’s existing venture investors.
This article introduces Silverfort’s identity protection solution and explains how it helps businesses maintain secure networks.
Overview of Silverfort
Silverfort is a disruptive cybersecurity platform that uses adaptive authentication to secure access to all corporate resources. Its unique approach strengthens the environment’s security and drastically simplifies the user experience. Unlike traditional identity and access management (IAM) solutions, Silverfort redefines how organizations protect their non-standard assets, like POS devices, servers in remote data centers, medical devices, etc. In addition, Silverfort provides real-time contextual authentication across all endpoints regardless of their location or type to protect users from insider threats.
Silverfort is dedicated to preserving our customers’ security in an ever-evolving threat landscape by offering industry-leading products and advice. As a result, our customers can count on us for the secure network access they need while enjoying simple user experiences with fast connections. In addition, Silverfort’s comprehensive identity assurance solution provides complete peace of mind for IT departments looking to secure critical assets while optimizing user productivity. As a result, we enable greater efficiency without sacrificing security requirements.
Overview of Gartner Cool Vendor
Gartner Cool Vendors are selected based on technology innovation and strategic importance. Annually, Gartner recognizes new products and services with disruptive outlooks that have immediate potential to deliver value to end-users in security, AI, digital workspace or cloud computing. In addition, Gartner’s Cool Vendor designation acknowledges an organization’s development of a well-conceived product or service that provides the customer with a novel solution designed specifically for the use case.
Silverfort was formally recognized by Gartner as a “Cool Vendor” in its 2020 report for Security Operations & Analytics. Silverfort is honored to be acknowledged by Gartner and delighted to be part of this select group.
As stated in the report: “Silverfort provides an AI-driven authentication enforcement solution that allows organizations to secure access without requiring further user intervention… In addition, Silverfort enables customers to apply consistent policy enforcement across various multi-factor authentication methods and identities within their environment, reducing risk while automatically enforcing user policies regardless of domain or local access method”.
This recognition is especially meaningful due to Silverfort’s unique approach providing contextual multi factor authentication across all internal resources on premises, in cloud and hybrid networks — including Active Directory (on premises), LDAPS/SSO over Active Directory trust bonds, legacy applications such as mainframes or Unix systems managed over SSH keys, cloud applications such as SaaS solutions (AWS/Google/Azure) and more — without any requirements for agents; all without impacting user experience.
Silverfort’s Recognition as Gartner Cool Vendor
Silverfort, a cloud-based identity threat protection solutions provider, recently announced that it had been recognized as a Gartner Cool Vendor. This recognition supports the company’s recent success in its round of funding, where it raised a $65 million investment to extend its identity threat protection solution.
Let’s explore this recognition further and discuss its implications.
Gartner’s recognition of Silverfort’s identity threat protection solution
Silverfort’s innovative solution for multi factor authentication and identity threat protection has caught the attention of Gartner, a leading information technology research and advisory company. After evaluating Silverfort’s offering, Gartner has granted Silverfort Cool Vendor status—the 10th highest honor by Gartner.
Gartner’s Cool Caveat report on Silverfort assesses how identities are dynamic and no longer static, creating an increased risk of attack for organizations. By leveraging cloud-native technologies and artificial intelligence (AI), Silverfort’s technology enables companies to apply risk-based authentication policies to help protect cloud-based assets, SaaS applications, networks and endpoints with user behavior analytics that enable contextual authentication decisions.
This recognition is a testament to Silverfort’s innovation enabling customers to strengthen their identity security across multiple points of access with an automated cloud-native solution that offers zero impact on user experience while preventing ransomware and managing credential theft attempts. Additionally, the advanced AI capabilities in its Risk Engine allows enterprises to automate access decisions based on trusted user behaviors that support continuous risk assessment. With the ability to centrally manage all users and devices from a single dashboard in real time, Silverfort helps organizations maximize their security posture while maintaining procedural simplicity for the SOC team.
Benefits of Silverfort’s identity threat protection solution
Silverfort’s identity threat protection solution is the most comprehensive on the market, providing organizations with a complete suite of tools to proactively protect and analyze the privileged access of their systems. With its advanced technology, Silverfort ensures that advanced authentication methods protect all user access, and it’s deep analytics helps organizations rapidly detect suspicious activities and take rapid action.
This recognition from Gartner validates Silverfort’s innovative approach to protecting identity-based threats from unstable user credentials. The solution provides integrated protection from outside threats and malicious actors within the organization leveraging privileged access to cause damage. Additionally, Silverfort is designed to detect and respond to threats quickly and accurately regardless of their origin or intent.
Furthermore, Silverfort’s lightweight agent architecture easily integrates with existing IT environments and does not hinder system performance or productivity. The agent can be deployed in minutes without disruption or downtime, allowing users to continue working uninterrupted while protecting against known real-time threats. Delivered as an easy-to-manage cloud service, Silverfort requires minimal IT resources to manage or maintain, reducing overall costs associated with internal security teams and expensive hardware investments.
Gartner recognized Silverfort’s unique position in the marketplace for its ability to bridge the gap between security teams and users by providing enhanced visibility into application usage while detecting hidden behavior changes indicative of malicious activity in almost real-time.
Additionally, by leveraging Silverfort’s identity threat protection solution, organizations can identify when a system has been breached and block attackers from entering into dangerous systems that haven’t been adequately secured before them, thus preventing large monetary losses due to data breaches inside an organization’s infrastructure.
Silverfort raises $65 million to extend its identity threat protection solution
Silverfort is thrilled to announce that it recently raised $65 million in funding led by Lightspeed Venture Partners. The funding will further extend and scale Silverfort’s identity threat protection solution, marking a major milestone in the company’s growth.
The round also saw participation from existing investors YL Ventures, Viola Ventures and Engineering Capital.
Overview of Silverfort’s $65 million funding
Silverfort, the revolutionary authentication platform, has recently secured $65 million in growth funding from prominent venture capitalists and technology leaders. This is Silverfort’s first round of financing since being recognized as a Gartner Cool Vendor in 2020. The funds will be used to accelerate the development of Silverfort’s product, expand its workforce and continue building out its global customer base.
Founded in 2018, Silverfort provides organizations a seamless solution to protect their cloud-native applications and data through passive continuous authentication. Its patented technology can detect abnormal behavior for any user or application accessing the network. Risk mitigation measures such as authentication become increasingly important as the world moves toward more digital transformation initiatives.
The new investments bring total funding to $80 million and includes major strategic investors such as Microsoft’s M12 Ventures, Salesforce Ventures, World Innovation Lab (WiL), IT-Farm Corporation and Amplify Partners LLP – with further participation from Vintage Investment Partners. Through this new strategic lead from M12 Ventures into Asia’s cyber security market and added support from WiL’s deep venture experience across Asia-Pacific markets, Silverfort will strive to expand its presence globally as demand for enterprise security solutions continues to rise alongside digital transformation plans in remote access cloud adoption policies across many countries worldwide.
How the funding will be used to extend Silverfort’s identity threat protection solution
Silverfort, an identity threat protection platform, recently announced that it completed a $65 million Series B round of funding. Insight Partners led the successful fundraising round with participation from existing investors. The company will use the proceeds to invest further in product development and expand its market reach with more global customers.
As a Gartner Cool Vendor in Identity & Access Management, Silverfort has been on the forefront in helping companies protect their digital infrastructure from identity threats such as credential compromise and account takeover attacks. With this new round of funding, Silverfort plans to extend its groundbreaking AI-driven authentication technology to the cloud and provide on-premise protection against emerging threats without requiring changes to existing systems or deployments. A key focus for Silverfort is providing customers with an integrated agentless solution that is easy to deploy and manage without making complex changes to existing infrastructures or authentication mechanisms.
The latest funding will also boost talent acquisition initiatives at Silverfort as the company strives to expand its engineering, customer success, sales and marketing teams worldwide to bring its AI-driven protection platform to organizations of all sizes across different industries around the world.
Silverfort has been recognized as a Gartner Cool Vendor and has raised $65 million to extend its identity threat protection solution. This highlights the widespread recognition of Silverfort’s innovative and industry-leading security solutions.
In conclusion, Silverfort’s solutions have become more popular and accessible through their recent investment, making them a more attractive option for businesses to consider incorporating into their security architecture.
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