Linx Debuts from Stealth Mode, Raising $33M to Secure the Next Frontier: Identity Safety

In recent years, identity management has emerged as a central point of vulnerability, continuously exploited by cyber attackers due to the complexity organizations face in monitoring it. A startup based in Tel Aviv, Linx, is making headlines with its AI-driven technology designed to tackle this issue head-on. With $33 million in newly acquired funding, Linx is preparing to step up its efforts in combating the challenges of identity management.

The funding for Linx is being reported as a lump sum, but details reveal it was obtained in two phases reflecting the company’s progress during its stealth phase. A recent $27 million round was co-led by Index Ventures and Cyberstarts, following an initial $6 million led by Cyberstarts.

Linx’s investor roster pays homage to its founders’ strong ties within the Israeli cybersecurity ecosystem. Contributors to the funding include esteemed figures such as Mickey Boodaei (Imperva, Trusteer, Transmit), Rakesh Loonkar (Trusteer, Transmit), and the Wiz duo of Assaf Rappaport and Yinon Costica (Adallom). Cerca Partners and Knollwood Investment Advisory also joined in this financing round.

The creation of Linx Security, which happened just over a year ago, is the result of a serendipitous friendship between Israel Duanis (CEO) and Niv Goldenberg (CPO). Their relationship blossomed in a typical Israeli tech industry fashion: serving together in the army’s esteemed 8200 cyber unit. They found themselves amidst other future tech luminaries, including Assaf Rappaport and the founders of Wiz. 

After their military service, both Duanis and Goldenberg carved out successful careers in cybersecurity, with Duanis at Checkpoint Software and Goldenberg at Adallom, Microsoft, and Transmit. Duanis also ventured into automotive fleet management technology with Fleetonomy before its acquisition by Via, signaling his continued interest in the security domain despite career diversifications.

Duanis expressed a sense of unfinished business in the security sector, particularly with identity management. He recalled how, traditionally at Checkpoint, access management was viewed more as an IT responsibility rather than a core concern for security; yet many modern cyberattacks are fueled by identity-based vulnerabilities. High-profile breaches at companies like Equifax, T-Mobile, and Snowflake serve as stark examples, often boiling down to compromised credentials.

The founders are convinced that a platform capable of incorporating compliance, security, and efficiency into managing identities would have a significant market impact.

Echoing current cybersecurity philosophies, “Identity is now the boundary that requires addressing,” they state.

The camaraderie between Duanis and Rappaport played a key role in Linx’s origins. When Duanis shared his vision for an identity management startup with Rappaport, it led to an introduction to Gili Raanan at Cyberstarts, swiftly resulting in Linx’s initial funding. The company has now moved out of stealth, though customer details remain confidential.

Linx’s strategy revolves around analyzing and organizing an organization’s sprawling digital identity landscape. By consolidating identities and ensuring they’re actively linked to current employees, the platform aims to root out dormant or rogue accounts that could pose security risks. This initiative is bolstered by the smart use of AI and analytics to quickly identify and eliminate ungoverned identity data, transforming potential vulnerabilities into a structured, manageable framework.

Despite the buzz around AI, Duanis emphasizes that Linx’s application of the technology is precise and impactful, reducing tasks that would take months into a matter of hours. This efficiency is central to Linx’s mission to revolutionize identity management.

Gili Raanan from Cyberstarts was quick to endorse Linx due to the evolving landscape of identity security, positioning it as a critical challenge for modern enterprises and their identity management teams, who are often hindered by outdated solutions.