Entro Security, a Cambridge, Mass.-based cybersecurity firm with roots in Israel, has closed an $18 million Series A funding round led by Dell Technologies Capital, the PC-maker’s venture unit. Prior investors Hyperwise Ventures and StageOne, both of Israel, and angel investors Rakesh Loonkar and Mickey Boodaei, both of Boston-based Transmit Security, also participated.
Co-founded in 2022 by former Microsoft engineer Adam Cheriki and former Symantec engineer Itzik Alvas, Entro focuses on protecting non-human identities — credentials and other secrets used to log into critical cloud and data networks. So far, Entro has raised $24 million.
Growing Demand
Entro, whose customers include Booking, SolarWinds, Elastic, Kayak and Regatta, plans to use the financing to scale global operations and meet growing demand for its platform. “We are eager to use the Series A funding to continue to lead this vertical, serve our dozens of customers and scale,” said Alvas, who serves as Entro’s CEO.
Deepak Jeevankumar, managing director of Palo Alto, Calif.-based Dell Technologies Capital, said the Entro team “intimately” understands the complex challenges of securing enterprise-scale systems. “Itzik and Adam have lived these challenges, which is how they’re able to build a platform that’s truly by practitioners, for practitioners to address threats to machine-to-machine interactions,” he said.
According to Alvas, interest in his company spiked after reports from IBM and Verizon identified breaches of non-human identities as the “costliest” cybersecurity attack. Reports by the two firms also ranked such attacks as the second most frequent in corporate environments.
Humungous Task
For each human identity, an organization today is estimated to have 45 non-human identities, such as service accounts, cloud access tokens and API keys. This is the result of rapid adoption of cloud and SaaS accounts. The sheer volume of these keys makes it hard for organizations to secure them.
Commercial Real Estate
MacKenzie Companies
Advertising / Media / Communications / Public Relations
Nevins & Associates
Financial Services / Investment Firms
Chesapeake Corporate Advisors
Commercial Real Estate
Monday Properties
Venture Capital
Blue Delta Capital Partners
Internet / Technology
Foxtrot Media
Entro’s platform helps organizations achieve this, besides helping “oversee their usage and automate their lifecycle from inception to rotation.”
“Entro has become an essential tool for our organization,” said Or Avraham, a cloud security specialist, adding that the company’s platform provides advanced capabilities and integrates easily into existing workflows.
In 2023, Entro was named a Cool Vendor by Gartner. It also won the Globee Awards for Startup Achievement of the Year, besides being named among Venafi’s Most Promising Machine Identity startups.
