Astrix Security Raises $45M Series B to Redefine Identity Security for the AI Era

Menlo Ventures led the round through their Anthology Fund, a strategic partnership with Anthropic, alongside Workday Ventures and previous investors BVP, CRV, and F2, bringing the total raised to $85M

NEW YORK, Dec. 10, 2024 /PRNewswire/ -- Astrix Security, the enterprise's trusted solution for securing non-human identities (NHIs), announced $45 million in Series B funding led by Menlo Ventures with the participation of Workday Ventures, as well as existing investors, Bessemer Venture Partners, CRV, and F2 Venture Capital. This funding advances Astrix's mission to secure enterprises' biggest identity blind spot with a revolutionary infrastructure that ensures trusted access to critical systems and expansion to all identities, including humans.

Gartner predicts that by 2028, at least 15% of day-to-day work decisions will be made autonomously through agentic AI. As organizations increasingly rely on these "virtual employees" to help support human workflows, the very definition of the "workforce" will change, forcing enterprises to rethink their existing identity and access management approaches.

NHIs, such as API keys, service accounts, and secrets, have been repeatedly exploited in recent high-profile cyberattacks such as those reported by Microsoft and Okta. With the rapid adoption of AI agents - software programs that enhance productivity by automating tasks - securing NHIs is becoming even more imperative.

"From inception, we've been laser-focused on securing enterprises' most vulnerable entry points and defining the NHI security domain. Now, with AI driving the proliferation of API keys, service accounts, and other NHIs in the enterprise, our mission has never been so critical and complex," said Alon Jackson, Astrix Co-founder and CEO. "Our innovative technology will go beyond governance to ensure secure access of human and non-human identities to the enterprise's most sensitive environments and data."

Menlo Ventures led the round through their Anthology Fund, a $100M initiative launched in 2024 in strategic partnership with Anthropic. "With the Anthology Fund, we're building a portfolio of next-generation AI startups; Astrix stands out for their pioneering work in securing non-human identities and addressing the emerging challenges of agentic AI. We're thrilled to partner with Jackson, Idan, and the Astrix team as they pave the way for redefining what security means in an AI-first world," said Rama Sekhar, Partner at Menlo Ventures.

Since raising its Series A funding only last year, Astrix has grown 5X and tripled the size of its team to support its growing Fortune 500 customer base, which includes organizations such as Figma, Netapp, Priceline, and Workday, Inc. Recognized industry-wide, Astrix was recently named a SINET16 Innovator 2024, a Gartner Cool Vendor in Identity-First Security, and an RSA Innovation Sandbox finalist in 2023.

In the first NHI Security Conference hosted by Astrix and Cloud Security Alliance (CSA), data revealed critical gaps in NHI protection, with one in five organizations having experienced a non-human identities security incident—but only 15% remain confident in their ability to secure them. Using an agentless approach, Astrix allows security teams to quickly discover all their non-human identities in one place, and automatically detects and remediates over-privileged, unnecessary, and malicious access that exposes their organizations to attacks.

"Our investment in Astrix reflects a shared commitment to empowering organizations with innovative, scalable solutions that address emerging security needs. As the adoption of AI and interconnected systems accelerates, Astrix's proactive approach to securing non-human identities aligns with our vision of enabling enterprises to navigate the future of work with confidence and trust," said Erin Yang, VP and Chief Technologist at Workday Ventures.

About Astrix Security
Founded in Tel Aviv in 2021, Astrix Security helps enterprises close their biggest security blind spot - Non-Human Identities (NHIs). Astrix provides visibility into all non-human identities, and automatically detects and remediates over-privileged, unnecessary and malicious access to prevent supply chain attacks and data leaks. Led by two veterans of the Israel Defense Force 8200 military intelligence unit, CEO Alon Jackson and CTO Idan Gour, Astrix's team is rapidly expanding. Astrix has raised $85M in funding, with a Series B led by Menlo Ventures and new investor Workday, as well as additional investments from CRV, Bessemer Venture Partners, F2 Venture Capital.

About Menlo Ventures
Menlo Ventures is a leading early-stage venture capital firm investing at the forefront of AI. Our portfolio includes more than 80 public companies and more than 165 exits through mergers and acquisitions. Currently managing more than $6B in assets, we invest at every stage across Consumer, Enterprise, and Healthcare. Our portfolio companies include Abnormal Security, Anthropic, Benchling, Carta, Chime, Harness, Pinecone, Poshmark, Pillpack, Recursion, Roku, Rover, Siri, Typeface, Uber, and Warby Parker. We strive to have a positive impact on everything we do. When we're in, we're ALL IN, and we are ALL IN on AI.

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SOURCE Astrix Security