London-based cybersecurity startup Ploy has secured £2.5 million in funding led by Osney Capital, with participation from Superseed, Tiny.vc, and Rule30, alongside several angel investors from ForgeRock, Digital Shadows, ZScaler, Rapid7, Egress, and ComplyAdvantage.
Founded by former Metomic leaders Jacob Prime and Harry Lucas, Ploy is a cloud-first Identity Governance and Administration (IGA) platform that automates identity and access management across SaaS, cloud, and collaboration tools, helping companies reduce identity management time by up to 90%.
Automating identity and access management
With 93% of organisations experiencing two or more identity-related breaches annually and 80% of cyberattacks now exploiting identity-based vulnerabilities, companies face an escalating identity crisis marked by complexity and sprawl.
Research indicates that each critical identity-related security alert requires approximately 11 person-hours, placing an additional burden on already stretched security teams. The increasing use of AI agents and non-human identities also introduces a new attack surface that legacy identity tools cannot adequately address.
Jacob Prime, CEO and co-founder of Ploy, said, “Spreadsheet-based access tracking is now a legal and security liability. They need real-time visibility into who has access to what, before attackers or regulators find the gaps. That’s exactly the problem Ploy solves.”
Ploy’s platform provides real-time visibility and automation, enabling rapid onboarding, offboarding, access requests, and reviews with pre-built integrations that allow companies to manage access within 20 minutes without coding.
Designed for mid-market companies with up to 5,000 employees, Ploy combines modern cloud architecture with an embedded AI assistant, “Luna,” which helps security teams spot anomalies and make context-rich access decisions.
“Identity sprawl has become a significant issue for organisations of all shapes and sizes, but particularly those with modern technology stacks; which often comprise hundreds, or even thousands, of SaaS applications” said Joshua Walter, Partner at Osney Capital, who will join Ploy’s board.
In the competitive Identity Governance and Administration (IGA) market, Ploy faces established and emerging players such as SailPoint, Okta, Saviynt, and One Identity.
What’s next?
The platform has already secured over 1 million individual access entitlements and discovered more than 26,000 SaaS applications across its customer base, which includes Payfit, Not On The High Street, Welcome to the Jungle, ComplyAdvantage, Liberis, and Times Higher Education. Customers report efficiency gains and faster incident response since adopting Ploy’s technology.
Having doubled revenue with a small team of four employees and previously raised funds from strategic angels in 2024, Ploy plans to use this new round to accelerate product development and global growth, redefining identity governance and setting a new benchmark for managing and securing access worldwide.
