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d="M92.37,20H7.266l41.509,25.374c0.64,0.391,1.446,0.391,2.086,0L92.37,20z"/><path d="M48.952,51.359L5,24.476V78c0,1.105,0.895,2,2,2h86c1.105,0,2-0.895,2-2V24.267L51.045,51.356 C50.404,51.751,49.595,51.752,48.952,51.359z"/></g></svg> </span> </a> </div> </li> </ul> </nav> </div> </div> </div></header><main class="page"><header class="page__header page__header--alt page__header--article"><div class="page__header__content"><div class="contentWrapper"><div class="categoryEyebrows"> <ul class="categoryEyebrows__list"> <li class="categoryEyebrows__item"><a href='https://twosigmaventures.com/blog/category/investments/' class='categoryEyebrows__link'>Investments</a></li> </ul></div><h1 class="page__header__title page__header__title--article">Announcing our Investment in Cerby's $17M Series A</h1><div class="page__header__text">By <a data-modal='open' href='https://twosigmaventures.com/our-team/profile/villi-iltchev/'>Villi Iltchev</a>, <a data-modal='open' href='https://twosigmaventures.com/?post_type=person&p=186'>Andy Kangpan</a>, and <a data-modal='open' href='https://twosigmaventures.com/our-team/profile/vin-sachidananda/'>Vin Sachidananda</a> on August 22, 2023</div></div></div></header><div class="page__body"><div class="page__share"> <div class="contentWrapper"> <ul class="socialShare"> <li class="socialShare__item"> <a href="https://twitter.com/share?url=https%3A%2F%2Ftwosigmaventures.com%2Fblog%2Farticle%2Fannouncing-our-investment-in-cerbys-17m-series-a%2F&text=Announcing+our+Investment+in+Cerby%26%238217%3Bs+%2417M+Series+A" class="socialShare__link socialShare__link--twitter" target="_blank" rel="noopener" aria-label="Share on Twitter"> <svg viewBox="0 0 24 24" xmlns="http://www.w3.org/2000/svg"><title>Twitter</title><path d="M23.954 4.569a10 10 0 0 1-2.825.775 4.958 4.958 0 0 0 2.163-2.723c-.951.555-2.005.959-3.127 1.184a4.92 4.92 0 0 0-8.384 4.482C7.691 8.094 4.066 6.13 1.64 3.161a4.822 4.822 0 0 0-.666 2.475c0 1.71.87 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href="mailto:?subject=Announcing%20our%20Investment%20in%20Cerby%26%238217%3Bs%20%2417M%20Series%20A&body=https%3A%2F%2Ftwosigmaventures.com%2Fblog%2Farticle%2Fannouncing-our-investment-in-cerbys-17m-series-a%2F" class="socialShare__link socialShare__link--email" aria-label="Share by Email"> <svg xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" version="1.1" height="24" width="24" viewBox="0 0 100 100" xml:space="preserve"><g><path d="M92.37,20H7.266l41.509,25.374c0.64,0.391,1.446,0.391,2.086,0L92.37,20z"/><path d="M48.952,51.359L5,24.476V78c0,1.105,0.895,2,2,2h86c1.105,0,2-0.895,2-2V24.267L51.045,51.356 C50.404,51.751,49.595,51.752,48.952,51.359z"/></g></svg> </a> </li> </ul> </div></div><div class="page__section page__section--article"> <div class="contentWrapper"> <div class="article"> <div class="article__body"> <div class="article__body__section article__body__section--rich_text"><div class="richtext"> <p>We’re excited to announce that we’re leading Cerby’s $17M Series A.</p><p>Through the past decade, a number of factors have transformed how organizations manage identity and access within their IT environment. These include a rapid increase in cloud adoption, significant changes in how software is adopted by employees, a proliferation of BYO devices in the workplace, and a shift towards remote and hybrid work environments. These forces have created a vast array of nonstandard applications – including on-premise, OT, legacy, and cloud – not supported by common identity and security standards enterprises rely on to secure who has access to what resources within their business. As a result, these nonstandard applications sit outside of an enterprise’s identity perimeter resulting in significant security risks, lost productivity, and compliance overhead.</p><p>This problem is pervasive. Despite the fact that enterprises have invested significant resources to bring applications within their identity perimeter, <a href="https://www.netskope.com/blog/netskope-and-okta-coming-together-for-continuous-adaptive-trust">95% of the applications</a> that employees use to do some part of their job remain unfederated. The security impact this can have for organizations is enormous. <a href="https://www.cerby.com/resources/blog/ponemon-2023">52% of organizations</a> have experienced a cybersecurity incident due to nonfederated applications. Additionally, large organizations <a href="https://www.cerby.com/resources/blog/ponemon-2023">spend more than 16K hours per year</a> managing users in these applications costing millions of dollars in unproductive spend.</p><p>Cerby solves this problem. Using machine learning and robotic process automation, Cerby’s identity management platform is able to automate away the compliance overhead, lost productivity, and security risk of nonfederated applications. This approach goes against the convention of protocol based solutions, enabling orgs across a company to provision broader coverage and visibility to security threats stemming from unmanaged applications. If you are an organization with applications outside of your identity perimeter, Cerby offers a wide range of existing integrations along with tools to federate any web or kubernetes based application (see <a href="https://www.cerby.com/product/integrations">cerby.com/product/integrations</a>). A number of enterprises, from startups to large corporations, are currently using Cerby for a wide range of security use-cases including protocol agnostic authentication, enterprise password management, and automated employee offboarding.</p><p>Cerby was founded in Sept 2020 by <a href="https://www.linkedin.com/in/belsasar-lepe-975a203/">Belsasar ‘Bel’ Lepe</a> (CEO) and <a href="https://www.linkedin.com/in/vidalon/?originalSubdomain=mx">Vidal González</a> (CTO) and worked together for nearly 14 years. They’ve had success building great businesses including Ooyala and Wizeline. When we first met Bel and Vidal, we were immediately inspired by their vision and focus on eliminating identity-related challenges for modern enterprises. Cerby has built a holistic identity management system for enterprises designed to enable consistent and customizable management of every business identity and application. We believe every organization stands to benefit from Cerby’s platform and are thrilled to be supporting the team on their journey to revolutionize identity management in the enterprise.</p> </div></div> </div> <div class="article__legal"> <div class="richtext richtext--footnote"> <p><em>*View all TSV investments <a href="https://twosigmaventures.com/two-sigma-ventures-investments/">here</a>.</em></p><p><em>The views expressed herein are solely the views of the author(s), are as of the date they were originally posted, and are not necessarily the views of Two Sigma Ventures, LP or any of its affiliates. </em></p><p><em>They are not intended to provide, and should not be relied upon for, investment advice, nor is any information herein any offer to buy or sell any security or intended as the basis for the purchase or sale of any investment. The information herein has not been and will not be updated or otherwise revised to reflect information that subsequently becomes available, or circumstances existing or changes occurring after the date of preparation. Certain information contained herein is based on published and unpublished sources. The information has not been independently verified by TSV or its representatives, and the accuracy or completeness of such information is not guaranteed. Your linking to or use of any third-party websites is at your own risk. Two Sigma Ventures disclaims any responsibility for the products or services offered or the information contained on any third-party websites.</em></p> </div> </div> </div> </div></div></div><section class="page__section page__section--related_articles" id="related-posts" aria-label="Related Posts" > <header class="page__section__header"> <h2 class="page__section__title">Related Posts</h2> </header> <div class="page__section__body"> <div class="columnWrapper columnWrapper--3"> <div class="columnWrapper__item columnWrapper__item--post_block"><div class="postBlock postBlock--bg"> <a href="https://twosigmaventures.com/blog/article/enterprise-grade-ml-solutions-with-scale-ai-mosaic-ml-comet-ml-and-arthur-ai/"> <div class="postBlock__image"> <div class="imageBlock" style="padding-top: 50.0%;" data-animation="blur" data-image-url="https://twosigmaventures.com/wp-content/uploads/sites/2/Hackathon-Banner-2-2022-11-02@2x.png" data-js-component="LoadImage" > <img 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