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ASTRIX SECURITY SECURES $45M TO ADDRESS NON-HUMAN IDENTITY BLIND SPOTS IN AI ERA

byAbhinaya Prabhu
December 10, 2024
3 minute read
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Astrix Security, a cybersecurity startup that helps enterprises close their
biggest security blind spots, has secured $45 million in Series B funding. This
round was led by Menlo Ventures (which invested in Magnetar and Sana Labs), with
participation from Workday Ventures, CRV, Bessemer Venture Partners (which
invested in Spot AI and The Exploration Company), and F2 Venture Capital.

With total funding reaching $85 million, Astrix is poised to scale its
operations, expand its product capabilities, and secure enterprises in an
increasingly automated world.


THE GROWING THREAT OF NHI EXPLOITS

Non-human identities (NHIs), such as API keys, service accounts, and automation
secrets, have become prime targets in cyberattacks, as highlighted by breaches
involving Microsoft and Okta. With Gartner predicting that agentic AI will
autonomously make 15% of workplace decisions by 2028, enterprises must rethink
their security strategies to include AI agents and other NHIs.

As organisations increasingly rely on these virtual employees to automate human
workflows, the definition of the workforce will change, forcing enterprises to
rethink their existing identity and access management approaches. This is where
Astrix comes into the picture to address one of the most overlooked
vulnerabilities in enterprise security – NHIs.


AUTOMATIC DETECTION OF MALICIOUS ACCESS

Founded in 2021 by Israeli military intelligence veterans Alon Jackson and Idan
Gour in Tel Aviv and headquartered in New York. It combines deep technical
expertise with an ambitious mission to redefine enterprise security. The
platform gives enterprises a centralised view of all NHIs, enabling automatic
detection and remediation of over-privileged or malicious access.

By addressing these gaps, Astrix prevents supply chain attacks and data leaks.
The platform’s agentless design ensures seamless deployment, empowering security
teams to act swiftly and effectively.


GROWTH AND ACHIEVEMENTS

Since its Series A funding in 2022, Astrix has experienced exponential growth,
expanding its team threefold and increasing revenue fivefold. The company now
supports a growing roster of Fortune 500 clients, including Workday, Netapp,
Priceline, and Figma. Its achievements have earned recognition as a Gartner Cool
Vendor in Identity-First Security, a SINET16 Innovator 2024, and an RSA
Innovation Sandbox finalist in 2023.

In collaboration with the Cloud Security Alliance, it hosted the inaugural NHI
Security Conference to spotlight critical security gaps. The event revealed that
one in five organisations has experienced NHI-related incidents, yet only 15%
feel confident in their ability to secure these assets.

“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.”


HOW DOES IT REDEFINE ENTERPRISE SECURITY?

With enterprises increasingly relying on AI agents and automation, Astrix’s
agentless platform offers unparalleled visibility and control over NHIs,
ensuring secure access to critical systems. Its ability to prevent data breaches
and supply chain attacks and strong backing, Astrix is all set to redefine
enterprise trust frameworks.


INVESTORS’ VIEWS

Menlo Ventures invested in Astrix through their Anthology Fund, “Astrix
exemplifies the type of transformative company the Anthology Fund was created to
support,” said Rama Sekhar, Partner at Menlo Ventures. “Developed between Menlo
Ventures and Anthropic, the Anthology Fund’s goal is to fuel the next generation
of AI startups, and our investment in Astrix highlights their leadership in
securing non-human identities, addressing the emerging challenges of agentic AI
and beyond. 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.”

“Astrix Security is leading the charge in how organisations approach the
critical challenge of securing non-human identities, and we’re excited to
support them in their journey. Our investment in Astrix reflects a shared
commitment to empowering organisations 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.

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