Anetac Emerges from Stealth to Empower Enterprises with a Streaming Identity Solution Revolutionizing Service Account Security, Raises $16M in Funding
06 Mayo 2024 - 6:00AM
Business Wire
- Anetac Dynamic Identity and Security Platform continuously
discovers and monitors all of an organization’s service accounts,
one of the most common vectors for attackers
- Liberty Global led the latest round, joined by Shield Capital,
GP Ventures, Anetac CEO Tim Eades and cybersecurity expert Jason
Witty
- Silicon Valley startup focuses on a new way to address the
global issue of security and identity management in hybrid
environments with dynamic visibility versus static scanning
- Anetac services industries such as major airlines, banking
institutions, educational centers, mining and other vital
businesses and infrastructure, highlighting the ubiquitous large
threat surface exploited via service accounts
RSA Conference-- Anetac, a Silicon Valley startup
protecting companies from blind spots of service accounts in hybrid
environments, announced its emergence from stealth mode. The
company also announced a funding investment totaling $16 million
which will bring necessary disruption to the identity and security
market by providing an intuitive, rapidly deployable SaaS solution.
The streaming solution offers real-time visibility, enabling users
to discover, monitor and respond to the large threat surface
exploited via service accounts. These threats include but are not
limited to large standing privileges, shared use, lack of
credential rotation and dormancy of an account.
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Anetac Dynamic Identity and Security
Platform. (Photo: Business Wire)
The Anetac Dynamic Identity and Security Platform was forged to
tackle a problem plaguing nearly every organization in every
industry: unmonitored or poorly monitored service accounts, tokens,
API and access keys. According to Anetac research data, service
accounts outnumber user accounts by 30-45 times. Unlike static
scanning tools, Anetac’s solution offers real-time streaming and
visibility into service account access chains, protocols, security
hygiene, privilege escalations and indicators of attack and
compromise, enabling security teams to quickly identify and
remediate vulnerabilities before malicious actors can exploit
them.
Anetac started with a group of seven founders with a deep
understanding of the cyber security challenges a hybrid enterprise
faces and how a dynamic problem requires a dynamic solution. Anetac
is already establishing a diverse customer base by servicing
markets including leading airlines, banks, colleges, mining and
other critical businesses and infrastructure while demonstrating
the global problem of rising data breaches.
“This is a problem for every organization, in every industry. In
today’s rapidly evolving threat landscape, we must acknowledge that
the soft underbelly of any organization lies in its ability to
monitor and secure dynamic and ever-changing environments with
real-time security measures. It’s imperative to recognize that
virtually every breach over the past decade has been exploited via
service accounts,” said Tim Eades, CEO and co-founder of Anetac.
“It’s staggering to discover the extent of poor security hygiene
amongst service accounts. With our new platform, available today,
we will proactively solve the disconnect of static scanning tools
with an innovative, streaming approach that dynamically addresses
identity problems and improves organizations’ security
posture.”
With this latest round of funding led by Liberty Global and
additional funding provided by Shield Capital and GP Ventures,
along with Anetac CEO Tim Eades and cybersecurity expert Jason
Witty, Anetac will continue to focus on crafting a seamless
business experience to elevate its service offerings to cater to
security leaders’ needs in the modern threat landscape.
Bringing an Intuitive Solution to a Global Security
Problem
The Anetac Dynamic Identity and Security Platform was built from
the ground up in close collaboration with and insight from a
community of CISOs, design partners and security executives. It
equips organizations with the intuitive security solutions needed
while remaining agile and deployable within minutes. With the
platform now accessible to businesses of all sizes, Anetac is
ushering in a new era of protection, empowerment and peace of mind
in the ever-evolving digital landscape by providing the following
capabilities:
- Real-time streaming visibility of non-human and shared-use
service accounts reducing blind spots and improving security
hygiene - in a recent retail organization’s deployment, we
discovered that 20% of provisioned accounts had never been used,
55% of all accounts were disabled, 30% had passwords over a year
old and hundreds of passwords that were over 5 years old
- Mapping of access chains illuminating complex chains between
service accounts, critical resources, business applications and
processes
- Automated behavioral analysis combined with time-series data
detecting unusual activity and expediting discovery and incident
response time
- Dynamically reducing attack surface by continuously mapping and
reinforcing the organizations' security posture
Investor & Customer Thoughts on Anetac Funding
Round
“Implementing a streaming identity solution that gives us
constant visibility into our service accounts has been a
game-changer for our organization. It has saved us many months of
effort required for account mapping, helped us scale security
efforts and maintain a comprehensive view of our service account
landscape,” said Jeromy Lease, cybersecurity and architecture
manager at a Denver-based Mining Company. “As a strategic partner,
Anetac helps our team prioritize and focus on keeping our
operations secure.”
“The Anetac Dynamic Identity and Security Platform streaming
solution is disrupting the market by delivering continuous
visibility of non-human service accounts and access chains for both
cloud and on-premises environments. This innovative approach to
securing service accounts sets a new standard and challenges
traditional approaches like never before,” said Michael Brown,
partner at Shield Capital. “Anetac launches amidst a global surge
in cyber threat growth across all industries, addressing the
critical need for a dynamic streaming solution offering constant
visibility and control across all accounts - service, user and
admin.”
“Cyber attacks stemming from unmonitored or poorly monitored
service accounts are a remarkable global issue affecting
organizations in all industries. With the Anetac Dynamic Identity
and Security Platform, organizations are poised for constant
surveillance on constantly changing service accounts privileges,”
said Jason Witty, CISO investor. “This investment is about
supporting a solution that aims to mitigate a significant risk
facing enterprises worldwide.”
About Anetac
Anetac is a world-class dynamic identity and security platform
that offers continuous visibility of the ever-evolving service
account landscape that every organization encounters today. For
hybrid environments, the streaming solution offers real-time
visibility, enabling users to discover, monitor and respond to the
large threat surface exploited via service accounts. Founded in Los
Altos, California in 2023, Anetac proactively solves the disconnect
of static scanning tools with an innovative, streaming approach
that dynamically addresses identity problems and improves
organizations’ security posture.
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Treble Matt Grant anetac@treblepr.com