Saviynt’s $700M Identity Crisis: Securing the Future or Just Wallets?
Saviynt announced a $700 million Series B funding round, valuing the identity security company at $3 billion. Led by KKR, the funds will enhance its AI-powered platform for managing and securing identities. While not all funds will go directly into the business, the investment aims to boost product development and integration with third-party platforms.
Hot Take:
Who knew securing identities could be this lucrative? With a $3 billion valuation, Saviynt is proving that even in the world of cybersecurity, identity is the new oil. Move over Instagram influencers, it’s time for identity security specialists to have their moment in the sun!
Key Points:
- Saviynt secures a whopping $700 million in Series B funding.
- Valuation of the company now stands at a jaw-dropping $3 billion.
- Funding led by KKR, with contributions from Sixth Street Growth, TenEleven, and Carrick Capital Partners.
- Funds will boost product development and integration with third-party platforms.
- Not all the $700 million might go directly into Saviynt’s business operations.
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