Scytale Raises $5 Million to Accelerate Service Authentication in the Cloud Native Enterprise

SAN FRANCISCO–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/RSAC?src=hash” target=”_blank”gt;#RSAClt;/agt;–Scytale Inc., a founding contributor to the Cloud Native Computing
Foundation’s (CNCF) SPIFFE and SPIRE projects, today announced $5
million in investment from new investors Bain Capital Ventures,
TechOperators, and Work-Bench. Bessemer Venture Partners also
participated, having led the company’s last $3 million investment.
Scytale will use the capital to launch its commercial offering based on
the popular open-source projects.

“In an increasingly complex and fragmented enterprise IT environment,
Scytale has not only built SPIFFE’s amazing open-source community but
has also delivered a commercial offering to address hybrid cloud
authentication challenges faced by Fortune 500 identity and access
management engineering teams,” said Enrique Salem, partner at Bain
Capital Ventures. “Scytale enables enterprises to more easily accelerate
cloud adoption and reduce development efforts while also standardizing
and automating service authentication. We are excited by Scytale’s
growing traction and huge potential to unlock innovation and efficiency
for large-scale distributed software systems at major companies.”

“From our experiences not only as investors but also as technologists
within some of the world’s largest financial institutions, we have heard
repeatedly from enterprise CIOs and CISOs that while dynamic computing
capabilities like public cloud, containers, and microservices offer the
promise of speed and agility, regulatory-driven risk policies and
controls, such as those that identify and authenticate services, are
difficult to evolve or change,” said Jonathan Lehr, general partner at
Work-Bench. “We’re excited by SPIFFE’s promise of delivering a flexible,
backward-compatible mechanism to uniformly identify software services
within and across an enterprise. This will enable Scytale customers to
easily extend their existing, hardened, authentication controls to any
dynamic platform that they adopt.”

“Scytale and the SPIFFE community believe that adopting a consistent
identity model for software services is a critical capability that
enables enterprises to more quickly evolve to hybrid cloud models and
deliver greater value to its customers faster,” said Sunil James,
Scytale’s chief executive officer. “We are looking forward to bringing
to market a foundational capability that will also help enterprise
security and infrastructure teams standardize and accelerate services
authentication across any platform, putting them on a great path towards
developing zero trust security infrastructure.”

Scytale also announced today the availability of Scytale
Enterprise
, industry-first service identity management for the
cloud-native enterprise. Scytale Enterprise enables frictionless service
authentication across cloud, container, and on-premise platforms.

Scytale will be demonstrating their new enterprise solution at RSA 2019
(Booth#103). Enterprises can request a demo
here
.

About Scytale

Founded in 2017 by seasoned engineers from Amazon Web Services, Google,
Okta, PagerDuty, and Duo Security, Scytale helps enterprise security
engineering teams standardize and accelerate service authentication
across cloud, container, and on-premise infrastructure. For more
information visit scytale.io.

About Bain Capital Ventures

Bain
Capital Ventures
partners with disruptive founders to accelerate
their ideas to market. The firm invests from seed to growth in startups
driving transformation across industries, from security and cloud
infrastructure to logistics and e-commerce to finance and healthcare.
The firm has helped launch and commercialize more than 240 companies,
including DocuSign, Jet.com, Kiva Systems, LinkedIn, Rapid7, Rent the
Runway, SendGrid, SurveyMonkey, Taleo, TellApart and Turbonomic. Bain
Capital Ventures has $4.9 billion in assets under management with
offices in San Francisco, New York, Boston and Palo Alto. Follow the
firm via LinkedIn
or Twitter.

About Work-Bench

Work-Bench is an enterprise technology focused VC fund based in New York
City. Work-Bench invests in the next era of enterprise founders selling
into the Fortune 500 and supports startups through customer acquisition
and community. The firm’s investments include CoreOS, Cockroach Labs,
Algorithmia, Merlon Intelligence, Dialpad, Socure, and other leading
enterprise startups. Follow Work-Bench on Twitter
and sign up for the 15K+ subscriber Enterprise
Weekly newsletter
.

Resources

Scytale
Website

Scytale
Enterprise Announcement

Contacts

Scytale
Umair Khan
Press@scytale.io

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