SecZetta, a provider of third-party identity risk solutions, revealed this week that it has raised $20.5 million in Series B funding, bringing the total raised by the firm to $30.5 million.
SYN Ventures and new investor MassMutual Ventures lead the fresh funding round. ClearSky and Rally Ventures, both existing investors, also contributed.
SecZetta’s identity risk platform assists businesses in managing the risks associated with third-party users who require access to internal resources. Affiliates, contractors, partners, vendors, supply networks, and other entities fall into this category.
Founded in 2019, SecZetta is based in Newport, Rhode Island. Through automation, the company claims that their system can deliver efficient third-party identity risk management without increasing costs.
The fresh capital, the company says, will help it boost third-party identity risk activities, increase the capabilities of its platform, and help drive expansion in both existing and new markets.
SecZetta claims to have doubled its customer base and is rapidly hiring to support its global expansion.
“To be successful, enterprises must automate best practises for managing the dynamic relationships required by their third-party resources and rethink the lines between identification and risk management,” said David Pignolet, SecZetta’s CEO and creator. “This is SecZetta’s sweet spot, allowing businesses to manage the identity lifecycle and risk of third-party workers with the same or greater care than their own employees.”