Aembit Raises $25 Million in Series A Funding for Non-Human Identity and Access Management

The investment will drive the company's advancement of scalable workload access management for enterprises SILVER SPRING, Md., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Aembit, the leading non-human identity and access management (IAM) company, has secured $25 million in Series A funding, bringing its total capital raised to nearly $45 million. Acrew Capital led the round, with participation from existing investors Ballistic Ventures, Ten Eleven Ventures, Okta Ventures, and CrowdStrike Falcon Fund. Aembit's funding comes in the wake of continued high-profile non-human identity attacks on organizations such as Cloudflare, The New York Times, and Microsoft. Non-human identity (NHI) refers to the applications, scripts, and bots that businesses use to automate their operations, as well as the credentials used by NHIs to communicate to sensitive databases, applications, and infrastructure.  These incidents exposed secrets such as API keys, access tokens, and other non-human access credentials, which were used to penetrate enterprise environments. In a newly published survey of security professionals, Aembit found that most organizations still struggle with managing NHI credentials securely: Over 30% still storing credentials in code, and 23% using email and chat to share credentials. Over 60% of respondents are looking for a comprehensive solution across their entire organization. Security professionals are recognizing the need for an access-focused approach that automates identity-driven, ...