Saviynt, an identity and access governance solutions provider, has secured $205 million in growth financing from global investment management firm AllianceBernstein.
The company is using the funding to "meet the market's growing demand for its converged identity platform and accelerate innovation," according to a prepared statement.
In addition, Saviynt founder Sachin Nayyar is rejoining the company as its CEO. Nayyar will help Saviynt "extend Enterprise Identity Cloud platform ... expand the platform to support emerging technologies such as OT and IoT and grow technology partner ecosystem," he said.
Saviynt has raised at least $375 million in funding to date. Previously, Saviynt added $130 million in financing in September 2021.
Saviynt Updates Enterprise Identity Cloud Platform
The funding and addition of Nayyar as Saviynt's CEO announcements come after the company in October 2022 incorporated the following features into to its Enterprise Identity Cloud platform:
- Application Onboarding and Management works in conjunction with Saviynt Exchange cloud and on-premises integrations to help organizations onboard applications and monitor the health of their apps.
- Bring-Your-Own-Vault (BYOV) enables organizations to integrate cloud privileged access management (CPAM) capabilities into their vaults to store secrets and passwords.
- Duplicate Identity Management (DIM) uses analytics and artificial intelligence to map duplicate or multiple identities to a verified human or non-human identity and minimize the risk and number of unmanaged identities.
Furthermore, Saviynt has created a Documentation Portal designed to "increase customer self-sufficiency and productivity," the company stated. The Documentation Portal provides Saviynt customers with personalized content and answers to common questions. It also offers contextual search results and workflow maps to help customers get the most value out of Enterprise Identity Cloud.
A Closer Look at Saviynt
Saviynt offers identity and access governance, application access, cloud security and privileged access solutions. In doing so, Saviynt helps global organizations embrace zero trust principles, according to the business.
Meanwhile, Saviynt offers a partner program for MSPs, MSSPs and other technology providers. Saviynt has established partnerships with Optiv, a Top 250 MSSP, and several other cybersecurity companies.
