Providing cloud-first identity governance and access management solutions for businesses, Saviynt announced securing $205 million in its latest growth funding from AB Private Credit Investors’ Tech Capital solutions group.
Moreover, the company welcomes back its founder Sachin Nayyar (the former CEO from its launch in 2011 to 2018), as the new Chief Executive Officer. After leaving Saviynt, Sachin launched another cybersecurity company named Securonix which scored more than $1 billion in 2022.
Savynt helps enterprises secure their data, applications and infrastructure with a single cloud-hosted identity management platform and utilize the raised capital to grow its partner ecosystem and build new features.
The company will employ the funds to meet the growing demand for its converged identity platform and drive innovation across identity management.