Today we are launching BalkanID, the industry’s first Intelligent Access Governance solution. It’s purpose built to address cloud native entitlement sprawl and access governance. As part of our company launch, we’re also announcing $5.75M in seed financing.
BalkanID leverages Artificial Intelligence (AI) to provide visibility into risky entitlements (a.k.a. entitlement sprawl) while simplifying and automating the access review & certification process. We believe the customer, whether they are security operations, identity engineering or risk/compliance needs to be empowered with a common data set to proactively manage risk in today’s complex and distributed cloud environment.
And we believe we’ve launched at the right time, with the right tech.
The explosion of Software as a Service (SaaS) and cloud application use in organizations, while having good benefits, have introduced new problems such as entitlement sprawl. Entitlement sprawl occurs when users are granted more access than needed to do their jobs. Because companies have no visibility into who has access to what, it has become a major attack vector -- one that organizations can no longer ignore.
Entitlement sprawl can be managed to a limited extent by using Identity and Access Management (IAM) tools, which help security and IT teams manage which users have access to what applications and services. . While IAM manages access, Identity Governance and Administration (IGA) solutions maintain governance and compliance via access reviews and certifications.
However, legacy IGA solutions were originally designed for on premise environments and have significant gaps and shortcomings when it comes to managing entitlement sprawl in cloud-native environments. Further, legacy IGA tools are expensive -- cost prohibitive to the mid-market -- and lead to end-user frustration when it comes to usability and maintainability.
This is where BalkanID comes in.
Our vision is leveraging AI to offer an autonomous IGA experience, to put “IGA on autopilot” and in doing so, providing superpowers to Security & IT teams.
And we couldn’t be more excited to be on our way.
Read more in our press release and get started today with BalkanID.