- Cerby secures $40 million in Series B funding led by DTCP, joined by Okta Ventures, Salesforce Ventures, and Two Sigma Ventures.
- The company has achieved a 10x increase in ARR and 5x customer base growth in less than 20 months.
- Cerby plans to use the funds to expand its operations in North America and EMEA, enhancing its application network and AI capabilities.
Cerby, a prominent identity security automation platform, has announced the successful closing of a $40 million Series B funding round. The round was spearheaded by DTCP, with participatory investments from Okta Ventures, Salesforce Ventures, and Two Sigma Ventures. This latest influx of capital is slated to enhance Cerby's Application Network and scale their operations further into North American and EMEA markets.
Since its Series A funding round 20 months ago, Cerby has witnessed remarkable growth, boosting its annual recurring revenue (ARR) by 10 times and expanding its customer base fivefold. The platform now automates identity workflows across more than 2,000 applications and serves over 100 organizations globally, including industry leaders such as L'Oréal, Fox, Allstate, Chime, and Dentsu.
Cerby uniquely automates the identity lifecycle for disconnected applications, integrating across Enterprise Password Management (EPM), Identity and Access Management (IAM), Identity Governance and Administration (IGA), and Privileged Access Management (PAM) systems. This comprehensive approach allows for enhanced security and operational efficiency, addressing the growing enterprise need for robust identity security solutions.
With this new investment, Cerby aims to further innovate its solutions suite, integrate advanced AI capabilities, and make its platform more extensible. The company will prioritize expansion in key markets such as Germany, France, the UK, and select Middle Eastern regions where demand for securing disconnected applications is on the rise due to regulatory pressures and increased complexity.
Belsasar Lepe, co-founder and CEO of Cerby, emphasized the company's commitment to eliminating security risks and operational burdens through advanced automation, ensuring comprehensive identity security coverage across all applications.
