Highlights:

  • Strong interest in Apono’s product has resulted in a 300% rise in revenue over the last three quarters off an unknown basis, as well as a trebling of the size of its U.S. sales and technical teams.
  • With the capital received, Apono plans to increase investments in research and development in addition to growing its U.S. sales and marketing teams.

Cloud access management startup Apono Inc. raised USD 15.5 million in the latest funding to catalyze product development and propagate its objective of offering AI-based security solutions to help businesses manage distributed cloud infrastructures.

Founded in 2022, Apono offers a Cloud Privilege Access platform that gives enterprises just-in-time and just enough privilege access to help them function in the cloud by bridging the operational security gap in access management. The company’s technology, which offers self-service, secure, and scalable access controls, makes work easier and safer for enterprises.

The development, operations, and security teams that oversee protecting and upkeep of the cloud environments they rely on are supported by Apono’s capabilities. The company states that while maintaining a seamless user experience, its pattern gives businesses a deep knowledge of privileged access within their cloud infrastructures, establishes robust security guardrails, and leverages AI-based least privilege and anomaly detection abilities to optimize security measures.

Co-founder and Chief Executive Rom Carmel, said, “Today, more than ever, we are seeing a shift in the identity space. 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.”

Strong interest in Apono’s product has resulted in a 300% rise in revenue over the last three quarters off an unknown basis, as well as a trebling of the size of its U.S. sales and technical teams. Jasper AI Inc., OpenWeb Technologies Inc., Intel Corp., Hewlett Packard Enterprise Co., and Instashop DMCC are a few of the company’s notable clients.

Director of cloud engineering at HPE, Arthur Goren, said, “We were able to self-service Apono in minutes, which significantly enhanced customer trust in our global multi-cloud platform. This seamless integration allows our teams to work without friction, ensuring efficiency and productivity.”

With the capital received, Apono plans to increase investments in research and development in addition to growing its U.S. sales and marketing teams. The business also intends to introduce new AI-based access product solutions and enhance customer success and sales engineering assistance provided by Apono.

The first seed investors, Silvertech Ventures, Mindset Ventures, and New Era Capital Partners LP spearheaded the Series A investment. With the addition of this capital, Apono has now raised USD 20.5 million.