Sphere Technology Solutions, a Newark, NJ-based leader in identity hygiene, raised $31m in Series B funding.
The round was led by Edison Partners, with participation from existing investor Forgepoint Capital. As part of the transaction, Edison General Partner Lenard Marcus will join SPHERE’s board of directors.
The company intends to use the funds to expand its SaaS offering, channel ecosystem and alliances, and sales and marketing to accelerate growth.
Led by Rita Gurevich, founder and CEO, Sphere provides a SaaS identity hygiene platform that provides visibility and remediation of identity hygiene risks along with tech-enabled managed services. Current customers are some of the largest and most highly regulated organizations globally, ranging from financial institutions to healthcare providers and more.
The platform SPHEREboard provides an end-to-end workflow for end-user and privileged account controls, across cloud and on-premises systems and infrastructure, remediates open, excessive and inappropriate access, and provides an evergreen path for sustainability.
