February 12, 2025 10:00 AM Eastern Standard Time

PALO ALTO, Calif.–(BUSINESS WIRE)–Legacy access management is failing modern enterprises in today’s cloud-first world. According to industry estimates, the legacy Identity and Access Management market exceeded $19 billion in 2024, yet 90% of organizations experienced an identity-related incident around that same timeframe. SGNL, a fast-growing identity-first security startup, is changing that. The company has just secured $30 million in a Series A funding round to accelerate its mission of redefining how businesses protect their most critical assets.

“Legacy vendors haven’t innovated for more than a decade, and the approaches that served them well in the past simply don’t work today. The current cloud-first, AI era demands a more dynamic, real-time approach—one that eliminates standing access, improves security, and reduces operational burden.”Post this

The round was led by Brightmind Partners, a security-focused firm co-founded by Stephen Ward, former Partner at Insight Partners, Home Depot CISO, and ex-Secret Service cybersecurity leader. Additional participation from Costanoa Ventures, Microsoft’s M12, and Cisco Investments underscore growing confidence in SGNL’s approach. With this latest funding—bringing SGNL’s total raised to $42 million since its founding in 2021—the company is set to expand go-to-market efforts, accelerate product development, and enhance customer support.

“We provide enterprises with a smart, more flexible way to manage privileged access,” said Scott Kriz, Co-Founder & CEO of SGNL. “Legacy vendors haven’t innovated for more than a decade, and the approaches that served them well in the past simply don’t work today. The current cloud-first, AI era demands a more dynamic, real-time approach—one that eliminates standing access, improves security, and reduces operational burden.”

Why Fortune 500 Enterprises Are Moving to Identity-First Security

Traditional IAM (identity and access management) and PAM (privileged access management) solutions were designed for static, on-premises environments. These outdated models rely on rigid, role-based access controls that struggle to scale with cloud-driven operations. The result is increased risk, compliance failures, and operational inefficiencies.

“As the former CISO of a Fortune 50 company, I saw firsthand how enterprises were investing tens of millions in PAM and IGA systems, expecting stronger security, but instead, these solutions often added complexity and operational overhead without solving the core challenges,” said Stephen Ward of Brightmind Partners. “For what enterprises face today, these traditional approaches are inherently flawed and ripe for disruption.”

SGNL takes an identity-first approach and is rewriting the playbook by eliminating static credentials and automating access decisions in real time. Instead of pre-assigned roles that require constant maintenance, SGNL ensures that employees, contractors, and partners get the right access at the right time—and lose it the moment it’s no longer needed. The result is tighter security, lower operational costs, and dramatically reduced compliance burdens.

SGNL’s Momentum: A Growing List of Fortune 50 Customers

Over the past 12 months, SGNL has gained significant traction with multiple Fortune 50 companies and a growing roster of Fortune 500 enterprises. One Fortune 50 company replaced its costly, outdated access management system with SGNL, reducing 30,000 role assignments down to just six policies to manage, while tightening access controls across its global workforce.

“We keep hearing the same frustration from enterprises. Despite companies spending more on PAM and IGA tools, these platforms are becoming more expensive and less effective at securing their environments. Customers tell us they need a solution that actually adapts to their business, not one that adds more overhead and complexity. SGNL is meeting this need with a modern, intelligent approach that makes identity-first security seamless, scalable, and effective,” said Scott Kriz.

What’s Next: Expanding SGNL’s Reach and Innovation

With fresh funding, SGNL is doubling down on its mission to modernize enterprise access security by investing in:

• Talent Acquisition: Expanding the team with top-tier go-to-market and product talent.
• Open Standards & Partnerships: Strengthening commitment to open security frameworks and customer-focused integrations.
• Market Expansion: Growing SGNL’s market presence across industries and driving adoption among Fortune 500 enterprises.

About SGNL

SGNL’s modern Privileged Identity Management is redefining identity security for the enterprise with its cutting-edge identity data fabric. By decoupling credentials from identity and enabling real-time, context-aware access decisions, SGNL empowers organizations to reduce risk, streamline operations, and scale securely.

That’s why Fortune 500 companies are turning to SGNL to simplify their identity access programs and secure critical systems. Founded in 2021, SGNL is backed by top security technology investors, including Microsoft’s M12 Venture Fund, Cisco Investments, Brightmind Partners, Costanoa Ventures, and others. For more information about SGNL, visit https://sgnl.ai.

Contacts

Press Contact:
Kelsie Skinner, Vice President, Marketing, press@sgnl.ai

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