As machine identities burgeon in response to escalating cloud and AI deployments, cybersecurity vulnerabilities multiply, providing hackers with numerous potential entry points. Recent high-profile hacks, including the 2023 Okta incident and the later 2024 Microsoft revelation exposed exploitation of service accounts and old test accounts respectively.
Responding to these emerging threats, entrepreneur Itamar Apelblat established Token Security. After experiencing a serious security breach involving an old service account, Apelblat identified the urgent need to manage the proliferation of non-human accounts. The result was the birth of Token Security in 2023, which, earlier this year, emerged from stealth mode.
Today, Token Security has secured $20 million in Series A funding, raising its total funding to $27 million. Investment leaders include Notable Capital, TLV Partners, and executives from industry giants like Palo Alto Networks, CrowdStrike, and Check Point.
Token Security’s innovative platform scans a company’s entire tech ecosystem, identifying machine identities and their controllers, enabling early detection of potential security threats. Their services have already prevented numerous incidents involving outdated or overprivileged internal access credentials.
The focus on machine identity security is escalating due to the inherent vulnerabilities of non-human accounts. Human-generated accounts undergo regular security updates and checks, while machine-created, project-specific accounts are often ignored, presenting attractive targets for hackers.
Token Security, armed with their newly-acquired funds, plans to boost their AI security capabilities, expand their executive team, and shift their headquarters from Israel to the larger US enterprise security market. Apelblat expects to complete the relocation next month.
Original source: Read the full article on TechCrunch
