Apono, an Israeli startup focused on cloud permissions and access management, has raised $15.5 million in a Series A funding round, boosting the firm's total investment to $20.5 million, CTech reports.
The company's AI-based platform helps manage access rights for cloud applications and enterprise databases, serving numerous clients, including Fortune 500 companies like Hewlett-Packard Enterprise and Jasper.AI. Apono plans to utilize the funds to expand its development team in Israel and enhance its marketing and sales efforts in the U.S. "Today, more than ever, we are seeing a shift in the identity space. Privileged access management and identity governance are converging, driving the need for more holistic identity and access security solutions, particularly within today’s dynamic cloud environments in which modern businesses operate," said Apono co-founder and CEO Rom Carmel. "As we continue our rapid growth, this funding will enable us to maintain our momentum and continue delivering cutting-edge solutions to our clients."
