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Based in Ramat Gan, Israel, Akeyless Security provides a cloud-native SaaS platform that helps enterprises secure and manage sensitive credentials, certificates, and encryption keys across hybrid and multi-cloud environments. The company utilizes proprietary distributed fragments cryptography to deliver zero-trust application access and data protection for complex information technology and DevOps workloads. Operating a B2B subscription model, the firm primarily serves midsize and large enterprise customers, with publicly traded corporations accounting for 78 percent of its total revenue. Akeyless Security employs between 100 and 200 people and has raised approximately $80 million in total venture capital funding, including a $65 million Series B round. The enterprise cybersecurity vendor is backed by prominent institutional investors including Team8, Jerusalem Venture Partners, NGP Capital, and Cyberstarts. The organization was founded in 2018 by Shai Onn, Oded Hareven, and Refael Angel.
Akeyless Security has raised $76.0M across 2 funding rounds.
Akeyless Security has raised $76.0M in total across 2 funding rounds.
Akeyless Security is a cloud-native SaaS platform that provides unified identity security for machines, AI agents, and humans, specializing in secrets management, machine identities, and zero-knowledge cryptography to protect credentials, keys, tokens, and certificates.[1][2] It serves enterprises across industries like technology, finance, retail, pharmaceuticals, healthcare, and cloud services—trusted by 2 Fortune 5 companies, 3 top U.S. retailers, 4 leading pharma firms, and major providers in consumer cloud storage and web hosting—solving the problem of fragmented, static credentials that cause 85% of breaches in cloud-native, ephemeral environments where traditional IAM and PAM tools fall short.[1][2] By offering secretless, policy-driven access with automated rotation and Distributed Fragments Cryptography (DFC), Akeyless reduces management costs by up to 70% compared to legacy vaults, ensures compliance (FIPS 140-2, SOC 2 Type II, ISO 27001, NIST SP 800-53, PCI DSS, DORA), and integrates seamlessly with DevOps tools like Kubernetes and Terraform.[1][3][5]
The platform's growth momentum is strong, highlighted by a recent strategic investment from Deutsche Bank's Corporate Venture Capital in October 2024, aimed at accelerating its mission to simplify multi-tool sprawl (enterprises often use 12+ tools across 75 vendors) and enhance visibility in multi-cloud identity security.[4]
Akeyless emerged as an Israeli startup founded by Oded Hareven (Co-Founder and CEO) and Refael Angel (Co-Founder and CTO), leveraging their expertise in security, cryptography, and software engineering to disrupt secrets management.[2][3] Refael Angel, a cryptography specialist with two patents on zero-trust encryption and prior experience as a Senior Software Engineer at Intuit's Israel R&D center (holding a B.Sc. in Computer Science from age 19), developed the core Distributed Fragments Cryptography (DFC) technology that enables cryptographic operations without combining key fragments.[1][2][3] Oded Hareven leads strategy, while COO Ronen Fischler, with a track record of exits at Amdocs, Sisense, and NICE, drives global scaling and go-to-market execution.[2]
The idea stemmed from recognizing gaps in legacy vault-based systems amid rising machine identities (now 85% of total) and multi-cloud complexity; early traction came from building a globally distributed, agentless SaaS platform that prioritizes customer success, seamless integrations, and cost efficiency, redefining security for DevOps, cloud, and legacy environments.[1][3]
Akeyless rides the surge in machine and AI agent identities (85% of total), where standing credentials fuel breaches amid multi-cloud, DevOps, and AI-driven innovation, outpacing traditional human-centric IAM/PAM tools unfit for ephemeral, federated setups.[1][4] Timing is ideal as enterprises grapple with tool fragmentation (15 categories, 75 vendors), rising software supply chain risks, and regulations like DORA, making Akeyless's unified, vaultless approach a market force for efficiency and resilience.[1][4][5] It influences the ecosystem by partnering with giants like Thales (powering CipherTrust Secrets Management) and attracting strategic backers like Deutsche Bank CVC, enabling faster secure innovation in tech, fintech, and beyond while lowering barriers to zero-trust security.[4][6]
Akeyless is poised to dominate identity security as AI agents and multi-cloud workloads explode, with Deutsche Bank's 2024 investment fueling expanded control over non-human identities and further DFC innovations.[4] Trends like automated compliance, agentless DevSecOps, and IP protection in AI eras will propel growth, potentially capturing more Fortune 500 share by simplifying the "new perimeter" of identity. Its influence may evolve through deeper ecosystem integrations and global scaling, redefining breaches not as inevitable but preventable—securing the machines, agents, and humans powering tomorrow's tech.[1][3][4]
Akeyless Security has raised $76.0M across 2 funding rounds. Most recently, it raised $65.0M Series B in November 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 1, 2022 | $65M Series B | Nokia Growth Partners | 91 Ventures, H.I.G. Capital, Erel Margalit, Jerusalem Venture Partners, NGP Capital, S Capital VC, Team8, Viola Ventures, Webtalk LTD, Mike Christenson, Jerusalem Venture Partners | Announced |
| Apr 1, 2021 | $11M Series A | Team8 | H.I.G. Capital, Erel Margalit, Jerusalem Venture Partners, S Capital VC, Viola Ventures, Yoav Tzruya | Announced |
Akeyless Security has raised $76.0M in total across 2 funding rounds.
Akeyless Security's investors include NGP Capital, 91 Ventures, H.I.G. Capital, Erel Margalit, Jerusalem Venture Partners (JVP), S Capital VC, Team8, Viola Ventures, Webtalk Ltd, Mike Christenson, Jerusalem Venture Partners, Yoav Tzruya.
