Procyon announced $6.5M Funding

The funding round led by Lobby Capital fast-tracks the growth of the next generation PAM helping enterprises improve and streamline their identity and access operations

Procyon, the industry’s first Privilege Access Management platform built for multi-cloud environments, today announced a $6.5 million equity financing to help organizations harness the growing identity and access management sprawl in cloud environments. The new investment was led by Lobby Capital with participation from GTM Capital and First Rays Venture Partners. This funding comes as Procyon, which already counts Fortune 100 companies among its early adopters, releases the industry’s first privilege access management solution built from the ground up for cloud native environments.

The Procyon Multi-Cloud Privilege Access Management platform offers

● Self-Service Access – With a self-service portal that can be customized to incorporate enterprise security processes, the Procyon platform allows DevOps and Identity Access Management (IAM) Operations teams to request on-demand access to resources

● Zero Standing & Just in time Privileges (ZSP &JIT) - By enforcing zero standing privileges (ZSP) along with Just in time (JIT) access, the Procyon platform also eliminates security exposures from over privileged access to resources and personnel

● Strong Device Identity – Using a Trusted Platform Module (TPM) chip on the modern devices, Procyon enables passwordless sign-in to all resources

● Compliance & Governance - The Procyon architecture offers the highest standard of compliance with support for major standards like PCI/SOC2 and audit logging and analytics allowing enterprises with the necessary visibility into who has access to what and when.