BOSTON, Dec. 13, 2023 (GLOBE NEWSWIRE) — Grip Security, a leader in SaaS identity risk management, today announced it has been named to the ‘Cyber 60’ list of top venture-backed startups that offer enterprise-grade cybersecurity solutions in the marketplace. The Cyber 60 is an inaugural report from Lightspeed Venture Partners presented in conjunction with Fortune magazine.
Since its founding in 2021, Grip Security has been on an extraordinary growth trajectory, raising $66 million in series B funding from YL Ventures, Third Point Ventures, Intel Capital and The Syndicate Group. Over the past year alone, bookings surged by over 400%, indicating strong market demand and customer trust. Notably, Grip Security boasts an impressive client roster, including multiple Fortune 500 companies. To support the company’s skyrocketing success, the workforce has nearly tripled. Grip Security’s rapid growth positions it as a formidable player in the cybersecurity industry.
A KPMG survey found almost 50% of enterprises don’t involve IT technology in their purchase decisions, creating an identity sprawl problem that is growing bigger every day. The top target for phishing attacks are SaaS user credentials. The solution requires reimagining SaaS with identities in focus, and Grip has done just that. Grip is identity-centric and allows companies to discover SaaS use and control privileges across the thousands of SaaS apps that are not secure.
“We’re pleased to acknowledge Grip Security’s inclusion in Fortune’s inaugural Cyber 60 list,” said Arif Janmohamed, Partner at Lightspeed Venture Partners. “The cyber security market has many great companies and products and we recognize the Grip team’s execution and position in the industry.”
Grip has earned industry-wide respect and awards from leading cybersecurity media and analyst firms, among them, a CISO Choice Award for identity and access management and recognition from CRN as one of the Stellar Startups and 10 Hottest Startup companies for 2023.
“Our team is incredibly honored to be recognized in the prestigious Fortune Cyber 60 list, standing among exceptional cybersecurity solutions in the market for achievements realized in only two-and-a-half-years,” said Lior Yaari, CEO and co-founder at Grip Security. “Our inclusion is a tremendous affirmation of our position as a world-class leader in SaaS identity risk management.”
About Grip Security
Grip Security is a pioneer in SaaS identity risk management, providing innovative solutions to help enterprises address the security risks associated with widespread SaaS adoption. The company’s SaaS Security Control Plane platform helps companies discover, prioritize, secure and orchestrate the mitigation and remediation of risks. The innovative approach of leveraging identity as the key control point allows companies to secure all SaaS applications and empowers enterprises to embrace SaaS adoption securely.
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