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      <p>
        Cybersecurity startup Uniqkey raised EUR 5.35 million (USD 5.9 million) in a funding round led by BackingMinds, with participation from several industry veterans and angel investors.
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        The funding will be used to scale Uniqkey's cybersecurity solution across Europe. The company plans to expand its reach to thousands of companies, strengthening their defenses against cyber threats.
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        Uniqkey's solution addresses a significant vulnerability in company defenses: poor password management. The company currently protects over 500 SMEs across Europe and has experienced 100% YoY growth over the past two years.
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  <p>
    <a href="https://www.eu-startups.com/2024/08/copenhagen-based-uniqkey-secures-e5-35-million-aiming-to-fortify-european-cybersecurity/">
      EU-Startups
    </a>
  </p>
  <p>
    <a href="https://tech.eu/2024/08/29/uniqkey-raises-5-35m-to-strengthen-sme-cybersecurity-in-europe/">
      Tech.eu
    </a>
  </p>
  <p>
    <a href="https://www.finsmes.com/2024/08/uniqkey-raises-e5-35m-in-funding.html">
      FinSMEs
    </a>
  </p>
  <p>
  </p>
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Identity & Access Management

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<p>The cybersecurity startup Uniqkey has successfully raised EUR 5.35 million (USD 5.9 million) in a recent funding round. The round was led by BackingMinds and saw participation from various industry veterans and angel investors.</p>
<p>This new capital will be deployed to expand Uniqkey's cybersecurity solution throughout the continent of Europe. The firm's goal is to extend its services to thousands of organizations in order to bolster their defenses against cyber threats.</p>
<p>Uniqkey's cybersecurity product addresses a significant weak spot in company defenses, specifically poor password management. As of now, the company provides protective services to over 500 SMEs in Europe, and it has managed to maintain a growth rate of 100% YoY over the last two years.</p>

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Uniqkey raises EUR 5.35 million in funding to strengthen cybersecurity

PROMINENT_CATEGORY

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 <p>Cybersecurity firm Secureworks has introduced Taegis IDR, an identity threat detection and response solution. The tool, available via the Taegis platform, is capable of identifying identity-related risks and settings in just 1.5 minutes.</p>
 <p>The solution utilizes artificial intelligence (AI) and machine learning for detecting, ranking, and reacting to identity-oriented threats spanning an organization's operations and the dark web. Taegis IDR safeguards against all MITRE ATT&amp;CK Credential Access techniques, consistently checks Microsoft Entra ID environments for misconfigurations, observes unusual user activity, and uses automated playbooks for immediate response actions.</p>
 
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Secureworks launches Taegis IDR for identity threat detection

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 <p>Clutch Security, a non-human identity security platform, has secured USD 8.5 million in a seed funding round. The funding was led by Lightspeed Venture Partners, and saw participation from Merlin Ventures, CCL, and angel investors Nir Polak, Shlomo Kramer, and Armon Dadgar.</p>
 <p>The funds will be used to deliver comprehensive non-human identity security and fill security voids across organisational structures without hampering business velocity.</p>
 <p>The platform of Clutch offers visibility for all types of non-human identities across organisations. It also enables risk identification and prioritisation based on the severity and business impact. The company has reported a human-to-non-human ratio of 1:45 as more enterprises adopt AI at a large scale.</p>
 
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Clutch Security raises USD 8.5 million in seed funding to secure non-human identities

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 <p>Tel Aviv-based identity security and governance platform, Linx Security, has raised USD 33 million. The funding, led by Index Ventures and Cyberstarts, also saw contributions from prominent investors such as Mickey Boodaei, Rakesh Loonkar, Cerca Partners, and Knollwood Investment Advisory. The funding is made up of a USD 6 million seed round spearheaded by Cyberstarts and a USD 27 million Series A round co-led by Index Ventures and Cyberstarts.</p>
 <p>Linx Security was established by Israel Duanis (CEO) and Niv Goldenberg (CPO), both ex-members of the Israeli Defense Force's Unit 8200, in 2023. The enterprise offers a platform that enables companies to get rid of blind spots and gaps inherent in conventional identity devices. It does this by linking user profiles to individuals, detecting unauthorized admission, and withdrawing permissions where required.</p>
 
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Linx emerges from stealth with USD 33 million in seed and Series A funding

INCUMBENTS_PRESENT

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 <p>CyberArk has introduced new features to its Identity Security Platform, including Identity Threat Detection and Response (ITDR) and AI enhancements. These help to track identity infrastructure health and risks, and offer remedial advice.</p>
 <p>Moreover, the platform provides granular access management policies, passwordless authentication for workforce users, and secure access for IT users without standing privileges. It also facilitates privileged access to databases and native access and session isolation. Additionally, it prevents lateral movement during cyber attacks.</p>
 
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CyberArk extends Identity Security Platform with new security capabilities

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 <p>SailPoint Technologies Inc., an identity security firm, has introduced an AI-based application onboarding capability in its SailPoint Identity Security Cloud. This feature allows customers to merge vital business applications, simultaneously boosting identity security.</p>
 <p>This AI-aided application onboarding capability automates the onboarding process. It discovers applications automatically, suggests connection methods, and offers advice on optimal practices for selection and implementation. This function also creates AI-driven recommendations to match identities to accounts, decreasing mapping time by an estimated 70%.</p>
 <p>SailPoint states that this new feature tackles the lengthy and expensive procedure of onboarding applications, particularly for organizations managing hundreds or thousands of applications. By streamlining the process, companies can expect quicker time to value, heightened security for business applications, and a superior user experience.</p>
 
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SailPoint launches AI-powered application onboarding for enhanced identity security

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 <p>Amazon Web Services (AWS) has introduced passkeys support in its Identity and Access Management (IAM) service. These passkeys use public-key cryptography and are an alternative to passwords.</p>
 <p>This addition to AWS IAM allows users to access their AWS services and resources through passwordless authentication. This increases security by lowering the possibility of password-related attacks like phishing and credential stuffing. It also enhances user experience by removing the necessity for remembering and managing complex passwords.</p>
 
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All Updates

Uniqkey raises EUR 5.35 million in funding to strengthen cybersecurity

Secureworks launches Taegis IDR for identity threat detection

Clutch Security raises USD 8.5 million in seed funding to secure non-human identities

Linx emerges from stealth with USD 33 million in seed and Series A funding

CyberArk extends Identity Security Platform with new security capabilities

SailPoint launches AI-powered application onboarding for enhanced identity security

AWS IAM adds support for passkeys

Identity & Access Management

Uniqkey raises EUR 5.35 million in funding to strengthen cybersecurity

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