Elisity Raises $26M Series A to Scale AI Cybersecurity

Elisity Secures $26 Million in Series A Funding

Elisity, a company specializing in behavior-based cybersecurity solutions for enterprises, has successfully completed a $26 million Series A funding round.

This funding initiative was jointly spearheaded by Two Bear Capital and AllegisCyber Capital, with participation from existing seed investor Atlantic Bridge.

Platform and Funding Purpose

Led by experienced professionals formerly of Cisco, Qualys, and Viptela, Elisity intends to utilize these funds to address the increasing demand for its Cognitive Trust platform.

The company positions its cloud-delivered platform as uniquely capable of understanding the connections between assets and individuals, extending beyond traditional corporate network boundaries.

Transitioning to Zero Trust Security

Elisity’s platform facilitates a shift from outdated access methods to a zero trust security model.

This model operates on the principle of strict access control, assuming no inherent trust – even for internal employees – throughout an organization’s digital infrastructure.

By implementing this approach, organizations can effectively support a “work-from-anywhere” environment.

Currently, many businesses still rely on security measures tied to physical location or basic network configurations like VLANs, IP addresses, MAC addresses, and VPNs.

Cognitive Trust Capabilities

Cognitive Trust analyzes the distinct identity and context of users, applications, and devices, encompassing IoT and OT environments, regardless of location.

Leveraging AI-powered behavioral intelligence, the platform continuously evaluates risk and dynamically adjusts access, connectivity, and protection policies.

Investor Perspective

Mike Goguen, founder and managing partner at Two Bear Capital, commented on the expanding attack surfaces driven by remote work, cloud adoption, and the integration of IT/OT networks.

He stated that Elisity tackles these challenges by implementing a zero trust model at the network edge, considering the behavioral context of each interaction.

Two Bear Capital is enthusiastic about partnering with CEO James Winebrenner and his team to broaden the reach of their innovative security approach.

Company Background and Growth

Established in 2018, Elisity competes with companies such as Vectra AI and Lastline.

The company previously secured a $7.5 million seed round in August of the same year, led by Atlantic Bridge.

This initial funding was used to expand the engineering, sales, and marketing teams in preparation for the platform’s launch.

Now, Elisity aims to scale operations to meet the growing demand from enterprises adopting hybrid work models and seeking solutions to secure distributed workforces.

Vision for Secure Access

James Winebrenner emphasized the opportunity to redefine how enterprises connect and protect their resources as the traditional security perimeter dissolves.

He advocates for a transition from network-centric security to a model based on identity and context for secure access.

Elisity promises a streamlined onboarding process, potentially completing setup in as little as 45 minutes, compared to the months or years typically required by other solutions.

The platform allows for a phased rollout to cloud and on-premise environments without necessitating the replacement of existing identity providers or network infrastructure.

This is achieved without compromising employee productivity or network security.