Identity Security Startup Cerby Secures $40M Series B to Expand AI-Powered Access Management Platform

Cerby, a startup specializing in identity security automation, announced Wednesday that it has successfully closed a $40 million Series B funding round, pushing its total capital raised to $72.5 million since inception.

DTCP Capital spearheaded the investment round, with participation from returning investors including Okta Ventures, Salesforce Ventures, and Two Sigma Ventures, all of whom increased their stake in the company.

Established in 2020 and headquartered in Alameda, California, Cerby has developed an identity security platform designed to help enterprises manage and streamline access control for isolated applications that traditional security infrastructure cannot monitor or protect.

According to the company, its technology streamlines identity management processes across Enterprise Password Management (EPM), Identity and Access Management (IAM), Identity Governance and Administration (IGA), and Privileged Access Management (PAM) systems. The platform handles credential management, user authentication, privileged access controls, user provisioning, and corporate social media oversight to deliver comprehensive security governance.

The startup reports that its solution automates identity management workflows for more than 2,000 applications and serves clients spanning diverse industries including healthcare, manufacturing, digital collaboration, retail, software-as-a-service, media streaming, telecommunications, and corporate training sectors.

Cerby intends to allocate the fresh capital toward developing advanced AI-driven capabilities and enhancing platform flexibility to address increasing client requirements. Additionally, the company will strengthen its sales and marketing initiatives across North American and European, Middle Eastern, and African (EMEA) markets.

The firm's international growth strategy will prioritize key European markets including Germany, France, and the United Kingdom, while also targeting select Middle Eastern territories for strategic expansion.