SGNL, a fast-growing identity-first security startup, has raised $30 million in a Series A funding round to transform enterprise access management. The investment round was led by Brightmind Partners, a cybersecurity-focused firm co-founded by Stephen Ward, former Partner at Insight Partners and a seasoned security leader. Additional support came from Costanoa Ventures, Microsoft’s M12, and Cisco Investments, reflecting strong confidence in SGNL’s approach to modernizing identity and access security.

Expanding Market Presence and Product Development

The new funding brings SGNL’s total capital raised to $42 million since its founding in 2021. The company plans to accelerate product development, expand its market presence, and enhance customer support to meet the growing demand for a more adaptive security framework. As businesses increasingly shift to cloud-driven environments, SGNL aims to address the limitations of traditional identity and access management (IAM) and privileged access management (PAM) solutions.

The Need for Identity-First Security

SGNL’s identity-first security model is designed to replace legacy access controls that struggle to keep up with dynamic cloud operations. Traditional access management systems rely on static, role-based permissions that require constant oversight, leading to operational inefficiencies and security vulnerabilities. By contrast, SGNL eliminates standing access and dynamically grants permissions in real-time, ensuring users have the right level of access only when needed.

CEO Perspective on Market Challenges

Scott Kriz, Co-Founder and CEO of SGNL, highlighted the pressing need for a smarter and more flexible access management solution. He pointed out that legacy vendors have failed to innovate in over a decade, leaving enterprises to grapple with outdated systems that no longer meet today’s security demands. SGNL’s model reduces operational burden while strengthening security, aligning with the cloud-first, AI-driven era.

Industry-Wide Demand for a New Approach

The enterprise demand for identity-first security is growing, as legacy IAM and PAM solutions often introduce complexity rather than solving security challenges. Industry estimates suggest that the legacy IAM market surpassed $19 billion in 2024, yet 90% of organizations still reported identity-related security incidents. Stephen Ward, now at Brightmind Partners, emphasized that large enterprises have invested heavily in access management tools without achieving the expected improvements in security, making disruption in this space inevitable.

Fortune 500 Enterprises Adopting SGNL

SGNL’s impact is already evident among Fortune 500 enterprises, with several Fortune 50 companies adopting its platform to streamline access controls. One global corporation successfully replaced its legacy access management system, reducing 30,000 role assignments to just six policies, significantly improving security and efficiency. This shift demonstrates SGNL’s ability to address long-standing industry pain points while reducing costs and compliance burdens.

Future Plans and Market Expansion

The fresh infusion of capital will support SGNL’s efforts to expand its team, focusing on product innovation and go-to-market strategies. The company also aims to strengthen partnerships and align with open security frameworks to drive adoption across multiple industries. As enterprises continue to navigate evolving cybersecurity threats, SGNL positions itself as a leading force in modernizing access management with an intelligent, scalable solution.

With its latest funding, SGNL is poised to accelerate its mission of redefining enterprise security. The company’s approach aligns with the needs of organizations seeking a more dynamic and efficient way to manage access while mitigating security risks. As demand for identity-first security grows, SGNL’s platform is set to play a crucial role in shaping the future of enterprise cybersecurity.