Remediant—a 2015-established firm developing Privileged Access Management (PAM)-based software for enterprises—last week revealed that it has raised $15 Million in a Series A funding round. The aim of the startup is to assist other organizations and companies safeguard restricted access in a modern context. ForgePoint Capital and Dell Technologies Capital led the recent funding round.
Remediant’s co-founder Paul Lanzi says that he and his partner Tim Keeler founded the company by keeping two main concepts in mind. The first concept is the potential to assess all the locations where privileged accounts exist and the systems that have been accessed. The second concept is to revert back all the changes through the privileged access from all those accounts,” Lanzi described.
The actual backbone of the startup is Zero Trust model, in which a user has to pass a verification process before getting access to the privileged area.
The company has been circulating in a loop until now, which is strange in case of a startup particularly at this growing stage. However, Lanzi told that they have decided to seek for financial support to boost the operations and concentrate on growth.
Either cloud or on-premises storage can be used to install the security tools generated by the startup. The startup is working on developing a product that would be entirely based on the cloud.
On a related note, Box—a Redwood City, California-based file sharing service-providing company—later last week announced that it has launched a beta version of Box Shield to secure the system files. Box Shield includes a set of tools through which the users know with whom their content is being shared. In addition, the security team of Box can oversee when the content is being abused.
In some cases, organizations may use Box as an ultimate content management way to allocate files such as documentation on the web.
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