US-based cybersecurity software developer Remediant has secured $15m in a series A round co-led by Dell Technologies Capital, the corporate venturing arm of computer manufacturer Dell, and venture capital firm ForgePoint Capital.
Founded in 2013, Remediant has created a real-time cybersecurity monitoring platform that locks down privileged accounts and facilitates just-in-time administration, which requires access to be approved by an administrator, offering only time-limited access to sensitive files.
The technology is designed to protect businesses from malicious actors using stolen credentials to break into networks. Remediant will use the funding to expand its marketing and field operations, drive product development and strengthen customer support.
The series A round marks the first time Remediant has raised external funding. It claims to have been profitable since signing up its first client, aerospace and defence technology producer Lockheed Martin.
Tim Keeler, CEO and co-founder of Remediant, said: “We are grateful to have the support of Dell Technologies Capital and ForgePoint Capital to help us execute on our mission to change the privileged access management landscape, as we offer a new way to protect organisations from data theft via stolen credentials.”
