Apono nets $15.5M Series A for cloud access management solution
Apono nets $15.5M Series A for cloud access management solution
The Israeli startup's platform offers a security solution for managing access rights to cloud applications and organizational databases.
Apono, a startup that develops and manages an artificial intelligence-based solution for cloud permissions and access management, has successfully raised $15.5 million in a Series A funding round. The round was led by New Era Capital Partners, with additional participation from Mindset Ventures, Redseed Ventures, Silvertech Ventures, and existing investors Meron Capital and Booster Ventures. This latest funding brings Apono's total investment since its inception to $20.5 million.
Apono's platform offers a security solution for managing access rights to cloud applications and organizational databases. The company’s technology serves dozens of clients across the U.S., including Fortune 500 companies and technology and insurance firms in the U.S., Europe, and Israel. Among its notable customers are Hewlett Packard Enterprise (HPE), Jasper.AI, Bloomreach, and OpenWeb. Over the past three quarters, Apono has seen a 300% increase in revenue.
Currently employing 35 people, Apono plans to use the new investment to expand its development team in Israel and bolster its marketing and sales teams in the U.S.
Founded in 2022 by Rom Carmel, CEO, and Ofir Stein, CTO, Apono benefits from the founders’ extensive experience in DevOps and security. Carmel previously held R&D management roles within the Cyber Division of the Israeli Prime Minister's Office, where he gained significant expertise in organizational information security. Stein, a former officer in the Israeli Air Force, was one of the first developers at Logz.io and led the development of one of its core products.
“Today, more than ever, we are seeing a shift in the identity space,” said Apono’s Co-Founder and CEO Rom Carmel. “Privileged access management and identity governance are converging, driving the need for more holistic identity and access security solutions, particularly within today’s dynamic cloud environments in which modern businesses operate. As we continue our rapid growth, this funding will enable us to maintain our momentum and continue delivering cutting-edge solutions to our clients. Our investors were drawn to Apono’s unique AI-driven product offering, innovative approach, and its swift adoption by enterprises, recognizing the company’s potential to lead the identity security market.”
