Defakto on Tuesday announced that it has raised $30.75 million in a Series B funding round that brings the total investment secured by the company to roughly $50 million.
The latest funding round was led by XYZ Venture Capital with participation from The General Partnership, Bloomberg Beta, WndrCo, Michael Coates (former Twitter CISO), Adverb Ventures, and J.P. Morgan.
The investment will be used to accelerate product development and expand go-to-market efforts.
The California-based company has developed an identity and access management (IAM) platform focusing on non-human identities, which are increasingly used in enterprise environments and can pose significant security risks if not addressed properly.
Defakto’s platform is designed to secure every automated interaction, replacing static credentials and overprivileged service accounts with dynamic identities for all non-human actors, including AI agents, services, workloads, and pipelines.
The platform is designed to cover the entire non-human identity lifecycle and it works across AWS, Azure, Google Cloud, and hybrid environments.
Defakto says its platform can easily be integrated into development pipelines and workflows without causing friction.
The company was founded by Danny Oliveri, who serves as CEO, and Eli Nesterov, who has taken on the role of chief technology officer.
“Every enterprise has invested in securing its people. But non-humans are now the majority of users, and their identities are still governed by outdated, secret-based models that create mounting technical debt,” said CEO Oliveri.
“We didn’t build another tool to give you more visibility or manage secrets. We built a platform to eradicate them, eliminate overprivileged access, and give enterprises the same foundation for machines and AI that IAM gave them for people,” Oliveri added.
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