Appaegis announced that it raised $7.7M in seed funding, led by Taiwania Capital, whose mission is to invest in enterprise software, AI, information security, and cloud infrastructure companies. Joining Taiwania Capital are TSVC, Alumni Ventures, First In, LDV Partners, and Silicon Valley Future Capital.
The funding will accelerate customer acquisition, increase the pace of innovation and grow the team. It will further the mission to deliver data-centric zero trust by federating identity and authorization. Organizations have evolved from a centralized, hardware and network centric world to a distributed, application and cloud centric world. As a result, network centric solutions and authorization approaches are no longer adequate.
The growth in applications, each with siloed approaches to identity and authorization has led to permission sprawl. The increase in number of applications has led to data being distributed and living in sometimes insecure silos.
Migration to the cloud and a workforce that includes remote employees, contractors and third parties has added complexity. These dynamics have created security gaps that require unifying identity and authorization to effectively protect data.
Federating identity and providing data access security in this new world requires a new approach. Appaegis has built a solution that enforces the principles of zero trust to federate identity and protect data. With Appaegis organizations reduce operational complexity, reduce the risk of data loss, and can meet compliance objectives.
The ease of implementation, cloud delivery model and platform agnostic approach closes security gaps created by the complex infrastructure and network-centric approaches.
“Data access security without a unified approach to authorization and identity is not possible. We combine automated resource discovery, federated identity, comprehensive visibility, and an isolation-based approach. This delivers an innovative solution for secure remote access to applications and data,” according to Michael Shieh, CEO and Co-founder of Appaegis. “We integrate data security, ransomware protection and a multi-cloud approach, to close security gaps of network-centric approaches.”
“We are excited about our investment in Appaegis. Differentiated technology, a compelling vision and a team with ability and experience to execute are key ingredients Appaegis brings to the table,” said Huang Lee, Managing Partner from Taiwania Capital. “The digital transformation, growth in applications and platforms combined with a recognition that protecting data access is not just critical risk, but an existential risk, has accelerated demand for the solution that Appaegis has built,” Huang added.