Seattle-based Automation and orchestration platform AppViewX has raised $20 million in a funding round to maximize its go-to-market operations, product development, and overall revenue growth strategies on its mission to help Global 2000 organizations to reduce risk by securing and orchestrating enterprise identities and applications.
Existing backer Brighton Park Capital led the Series A round. Through its automation platform, The startup reduces risk and ensures compliance in many of the most demanding Fortune-ranked organizations across financial services, banking, healthcare, oil and gas, manufacturing, and high tech. AppViewX automates NetOps, SecOps, and DevOps for Fortune 1000 companies.
AppViewX says it is seeing a significant shift in revenue to its SaaS offerings and currently has a best-in-class customer retention rate. Despite industry-wide challenges from the COVID-19 pandemic, It claims to have nearly doubled its workforce since 2019, bolstering its customer success, engineering, and go-to-market teams across the globe.
“Because of Digital Transformation initiatives and the accelerated shift to multi-hybrid cloud, the number of machine and app identities has grown exponentially,” said Gregory Webb, CEO at AppViewX.
"To reduce their digital risk, organizations acknowledge the importance of machine identity management, but there’s a lack of mature certificate lifecycle capabilities from antiquated, manual tools and siloed tactics. AppViewX enables organizations to reduce this growing risk with our Automation Platform, which facilitates digital transformation through streamlined workflows to prevent outages and reduce security incidents," Gregory said.
The startup also announced new strategic hirings: Samantha Symonds as Vice President of Legal oversees all legal, corporate governance, and compliance functions. Phil Biegler as Senior Vice President, Customers, acting on behalf of the customer's voice. Bryan Grabowski as Vice President of Alliances supports the company’s GTM strategy.
“AppViewX is doing just that, automating Machine Identity Management to help some of the world’s biggest organizations prove success on board-level topics like business risk reduction and compliance. We look forward to continuing our partnership with AppViewX as the company continues to innovate and advance the Machine Identity space forward,” said Mike Gregoire, Partner & Co-Founder of Brighton Park.
AppViewX is headquartered in New York with additional offices in the U.K., Australia, and three development centers of excellence in India.