Linx Security Launches with $33M in Funding to Enhance Identity Security

Linx Founders, On the right - Israel Duanis (CEO) and Niv Goldenberg (CPO) ● Photo Credit: Ohad Kab

NEW YORK, July 22, 2024 (VSNewsNetwork.com) - Linx Security, a cybersecurity company focused on modern identity security and governance solutions, has officially launched with $33 million in funding. The funding round was led by Index Ventures and Cyberstarts, with additional investments from Mickey Boodaei, Rakesh Loonkar, Cerca Partners, and Knollwood Investment Advisory.

Founded in 2023 by Israel Duanis and Niv Goldenberg, Linx Security aims to redefine how organizations secure and manage identities across complex digital landscapes. Duanis and Goldenberg are experienced cybersecurity executives with over 25 years of experience. Duanis previously co-founded Fleetonomy, which was acquired by Via in 2020, and led the threat prevention line of business at CheckPoint Security. Goldenberg was Vice President of Product at Transmit, where he contributed to doubling the company's annual recurring revenue.

According to the 2024 Verizon Data Breach Investigations Report, more than half of all breaches involve a human element, accounting for 68% of incidents. Additionally, the 2024 Identity Defined Security Alliance Report found that 84% of organizations have experienced an identity-related security breach, with 78% facing direct business impacts. Recent incidents, such as the Snowflake breach, highlight the critical need for improved identity security.

“Identity security is one of the urgent cybersecurity pain points organizations struggle to address in today’s fast-paced business environment," said Duanis. "Our platform empowers organizations to navigate the complexities of identity security and governance with confidence, ensuring they stay ahead of evolving threats and regulatory requirements."

Linx Security's technology addresses the gaps inherent in traditional identity tools. The platform maps and monitors the relationships between users, their identities, and their access to company data and resources, using advanced analytics and automation to help organizations reduce their attack surface, achieve compliance, and streamline operations.

Gili Raanan, Founder of Cyberstarts, commented, "Identity is the top threat vector for the modern enterprise. Identity teams under the CISO struggle with a growing number of tasks and antiquated legacy solutions. The highly motivated and accomplished Linx team will undoubtedly leverage their vast experience, creativity, and vision to tackle that."

Shardul Shah, Partner at Index Ventures, added, "Linx Security represents a pivotal advancement in identity security solutions, poised to redefine how organizations safeguard their digital assets.”

For more information about Linx Security and its innovative solutions, visit www.linx.security.

Source: Linx Security via Newswire