Oleria Raises $33M in Funding Round to Supercharge Autonomous Identity Security

Oleria, a company providing adaptive and autonomous identity security solutions, announced it has secured $33 million in a Series A funding round, enabling the company to increase hiring to accelerate its product innovation, including AI capabilities, as well as its go-to-market strategy.

This latest investment, which brings the company’s total funding to over $40 million, is led by Evolution Equity Partners with participation from Salesforce Ventures, Tapestry VC, and Zscaler.

“Oleria provides organizations with comprehensive visibility into their access posture and autonomously identifies and mitigates access risks before they can be exploited,” said Jim Alkove, co-founder and CEO of Oleria. “We are security operators building solutions for operators. Our team’s decades of experience in building and operating security programs at scale at tech leaders like Salesforce, Amazon, and Microsoft allows us to understand the complex challenges CISOs are facing and tailor our solutions to them.”

Oleria’s approach to access management enables CISOs to protect data and maintain trust in this dynamic environment without limiting the pace of business with traditional, rigid security constraints, according to the company.

Oleria's solution is designed to meet these demands by providing appropriate access to the right users, at the right time, for the right duration, all with a relentless focus on user experience. The solution continuously assesses and validates the people, applications, and assets involved in each digital interaction and enables organizations to adapt security to specific context and changing needs.

“Identity security is the cornerstone of any zero trust security program. Legacy approaches to identity security fail to address the underlying security risk while hurting business agility,” said Punit Minocha, Zscaler’s executive vice president of business and corporate development. “We are excited to support Oleria in their mission to build an adaptive and autonomous future for identity security that enables organizations to effectively manage risk while innovating at the pace of business."

Taher Elgamal, partner at Evolution Equity Partners and former CTO of Security at Salesforce, who will be joining Oleria’s expanded board of directors as part of this funding round.

‍In addition to Elgamal, John Watters, former president and COO at Mandiant, will be joining Oleria’s board of directors and investing in the round. Watters will bring a wealth of cybersecurity, go to market, and business operations expertise.

Oleria is currently piloting its solution with a diverse group of customers planning for general availability starting in early 2024.

“We’re excited to accelerate Oleria’s growth and product innovation with the expansion of our team here in Bellevue,” said Alkove. “I’m looking forward to delivering the next evolution of adaptive and autonomous identity security solutions to empower companies to stay ahead of evolving threats and maintain their customers’ trust without sacrificing agility.”

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