Unified access orchestration startup Pathlock today announced that it has raised $200 million in new funding and has merged with data security solutions company Appsian and compliance management company Security Weaver.
It also announced that it has acquired Belgium-based governance, risk and compliance management provider CSI Tools and Germany-based SAST Solutions.
The new funding was led by Vertica Capital Partners and will be used by Pathlock to expand its application governance and data security capabilities. Including the new funding, Pathlock has raised $220 million to date, according to data from Crunchbase.
Founded in 2004, Pathlock offers a unified access orchestration platform that protects digital enterprises with zero-trust security by surfacing violations and taking action to prevent loss. The company’s platform protects over 140 enterprise business applications and the critical transactions they power.
Pathlock pitches its solution as allowing enterprises to manage all aspects of application governance in a single platform, including user provisioning and temporary elevation, ongoing user access reviews, control testing, transaction monitoring and audit preparation.
The company’s customers include global 2000 companies to protect their critical digital assets from financial, operational, regulatory and security threats, ensure corporate compliance and improve performance. Notable clients include Ralph Lauren Corp., Vodafone Group Plc, Boeing Co., BP plc, Chevron Corp., Citrix Systems Inc. and Columbia Sportswear Co.
The first of the merged companies, Appsian, was founded in 2012 and offers data security and privacy software for traditional enterprise resource planning applications such as SAP, PeopleSoft and Oracle EBS. The second merged company, Security Weaver, was founded in 2004 and offers GRCM software with a robust framework. The company’s service is said to provide customers’ finance, information technology and audit departments with the tools and visibility needed to help reduce the risk of fraud and ensure compliance.
The first acquisition, CSI Tools, was founded in 1997 and offers dynamic solutions that are said to deliver intelligence from and to decisions taken in access governance for SAP environments. SAST Solutions offers a software suite, consulting and managed services for SAP.
Combined with the mergers and acquisitions, Pathlock says its combined offering will go deeper and wider than ever before by providing a single unified platform to implement, enforce and manage GRC controls across enterprise applications.
The combined company is now servicing over 1,200 customers across all major industries and will double in size in terms of employees. Additionally, the new company brings with it a global reach and international customer presence with offices across the U.S., Belgium, the U.K., Germany, Israel and India.
“Traditionally, organizations are auditing the controls for their applications and data with a patchwork of manual processes, disparate software tools, and consulting and services organizations,” Piyush Pandey, former chief executive officer of Appsian and new CEO of Pathlock, said in a statement. “The combined company from this series of mergers and acquisitions creates a first-of-its-kind, unified, 360-degree platform.”
Pandey added that the combined service would allow organizations to automate their controls across their business applications and mitigate risk in real time.