Mar 21, 2023

SecurityWeek Aembit Scores $16.6M Seed Funding for Workload IAM Technology Maryland startup Aembit gets funding to build an identity platform designed to manage, enforce, and audit access between federated workloads. By Aembit, a Maryland startup with ambitious plans in the identity and access management space, has snagged $16.6 million in early stage venture capital funding. The company said the seed-stage financing was provided by Ballistic Ventures and Ten Eleven Ventures, two firms active in funding cybersecurity companies. Aembit is building an identity platform designed to manage, enforce, and audit access between federated workloads. The company has rolled out a product that  provides secure access from client workloads to the services they depend on, like APIs, databases, and cloud resources. Aembit’s pitch is that it would simplify application development and delivery, allowing enterprises to authorize access to services based on defined policies, issue credentials expected by those services, and log the interactions between systems. The new investors are betting that Aembit’s use of new techniques like secretless authentication and credential providers, as well as no-code integrations to simplify secure access for developers will provide differentiation in a crowded IAM marketplace. Aembit is the brainchild of David Goldschlag and Kevin Sapp, two security engineers who previously created and sold NewEdge to Netskope in 2019.