BalkanID Closes $8.1 Million Seed Funding Round Amid Surging Demand for its Intelligent Access Governance Platform
Summary
Now, as there are higher adoptions of public SaaS in enterprise, we believe that traditional on-prem players will be disrupted by a modernized and advanced unicorn startup in Identity Governance and Administration. BalkanID is the best fit in the market.BalkanID helps companies identify and remediate potential risks associated with permissions sprawl across their SaaS and cloud landscape, prior to becoming a threat to the business. Its subscription-based Intelligent Access Governance platform leverages data science to provide visibility into risky entitlements and simplifies the access review and certification process using a combination of AI, decision support and workflow automation.We invest in companies with the capacity to drive digital transformation regardless of industry or geography and BalkanID checks all the boxes, said Gaurav Jain, founding managing partner at Afore Capital. Its elegant, differentiated solution that addresses a well-known, hard-to-solve problem in the access governance space and the company is staffed by a phenomenal team. We jumped at the chance to invest and look forward to participating in its success.Since its launch out of stealth in May 2022, demonstrating its commitment to the most rigorous security standards for its own operations and handling of customer data.