Anetac, a cybersecurity startup focused on service account security, has emerged from stealth mode with $16 million in funding. The company aims to revolutionise service account security by offering a real-time streaming solution that addresses a major vulnerability in hybrid environments. The latest funding round was led by Liberty Global, joined by Shield Capital, The General Partnership, Anetac CEO Tim Eades and cybersecurity expert Jason Witty.
Late last month, we also reported about Darktrace, a UK-based cybersecurity firm for enterprises, who announced to be acquired by US private equity firm Thoma Bravo in a $5.3 billion transaction.
What problem is Anetac solving
Service accounts, which are used by applications and services to access resources, are a prime target for attackers. Anetac highlights that unmonitored service accounts create a significant blind spot for many organisations. According to the company’s research, service accounts outnumber user accounts by 30-45 times.
Traditional security solutions often rely on static scanning, which Anetac argues is insufficient for the dynamic nature of service accounts. Anetac’s platform offers real-time streaming visibility into service account access, protocols, security hygiene, and potential indicators of compromise. This allows security teams to proactively identify and address vulnerabilities.
A streaming approach to identity security
Anetac was founded by a team of security professionals who recognized the need for a dynamic solution to address service account security challenges. The company’s platform is designed to be intuitive and easily deployable for organisations of all sizes. Here’s a breakdown of some key features:
- Real-time streaming visibility: Provides continuous monitoring of service accounts, reducing blind spots and improving security hygiene.
- Mapping of access chains: Illuminates complex connections between service accounts, critical resources, applications, and processes.
- Automated behavioural analysis: Detects unusual activity and expedites identification of potential security incidents.
- Dynamic attack surface reduction: Continuously maps and reinforces an organisation’s security posture.
What we we think about the startup
Anetac has already secured customers across various industries, including airlines, banks, educational institutions, and mining companies. Customers highlight the platform’s ability to provide continuous visibility and streamline security efforts.
Investors see Anetac’s solution as a significant disruption in the identity security space, offering a new standard for securing service accounts in both cloud and on-premise environments.
Anetac’s emergence and funding round shows the growing focus on securing service accounts, a critical yet often overlooked aspect of identity management. The company’s streaming approach has the potential to improve security posture for organisations across various industries.
