Stack Identity, a California-based start-up, has raised $4m in seed-stage funding to develop its identity and access management (IAM) governance solutions. Led by WestWave Capital and Benhamou Global Ventures, the funds will help the company to develop its suite of tools to identify and eliminate cloud data threat vectors.
The company claims to have an algorithm that can detect and eliminate “shadow access” – unauthorised access to cloud data – to help prevent breaches.
Furthermore, Stack Identity is entering an already crowded market of start-ups working on IAM governance, however, the company claims to be focusing on the “shadow access” problem. The company’s technology provides an attack map that prioritises the vulnerabilities in cloud identity and access management, to prevent rogue access or unauthorised data sharing.
The technology also provides live data and reports on data access and analyses the impact of data access on data security.
At the same time, the company is hoping that its technology will appeal to enterprise cloud security teams and has plans to scale product development and expand marketing to small and medium-sized businesses, mid-market companies and enterprise targets.
Finally, the IAM governance market is expected to grow to $16.5bn by 2025, and Stack Identity is confident that it can make a dent in the market with its approach to solving the “shadow access” problem.
