PlainID, a US-based digital authorisation technology provider backed by enterprise software producer SAP, raised $11m from new and existing investors yesterday.
The participants include Viola Ventures, INcapital Ventures, Capri Ventures, iAngels, Springtide Ventures and Vintage Investment Partners, according to PlainID. SAP invested an undisclosed amount in the company in February this year.
Founded in 2015, PlainID has built a policy-based access control system that can help equip legacy IT systems with cutting edge authorisation technology across a range of platforms.
Viola Ventures led the company’s $11m series A round in July 2018, which also featured Capri Ventures, Springtide Ventures and iAngels, and which increased its overall funding to $13m according to Globes.
PlainID’s co-founder and chief executive, Oren Harel, said: “With this new funding, we intend to accelerate our growth into new geographical markets and continue to lead by building new authorisation solutions to serve our customers.”
