Overview

Opal.dev specializes in access management solutions tailored for IT and infrastructure teams, focusing on enhancing cybersecurity. The platform operates on the principle of 'least privilege,' granting users only the necessary access to perform their job functions, which helps reduce security risks. It includes workflows that create an audit trail for Just-In-Time (JIT) access, making it appealing to compliance teams that must adhere to strict regulations. Opal's business model is subscription-based, providing clients with ongoing access to its services, and it also offers self-hosting options for organizations with specific data management needs. The platform features automated access requests, delegation of approvals, and visualization tools for monitoring access, setting it apart from competitors. Opal's goal is to simplify and scale access management while maintaining high security standards, positioning itself as a key player in the cybersecurity market.

Simplify's Take

What believers are saying

• Opal raised $22M, indicating strong investor confidence and growth potential.
• Integration with AWS Marketplace expands Opal's reach and service integration.
• The rise of remote work increases demand for Opal's secure access management solutions.

What critics are saying

• Increased competition from firms like Okta and CyberArk threatens Opal's market share.
• Emerging privacy regulations could complicate Opal's operations and data management.
• Customer resistance to subscription models may impact Opal's revenue streams.

What makes Opal unique

• Opal's platform implements the principle of 'least privilege' for enhanced security.
• Opal offers self-hosting options, catering to strict data sovereignty requirements.
• Opal provides end-to-end audit trails for Just-In-Time access, aiding compliance.

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Funding

Total Funding

$32.9M

Below

Industry Average

Funded Over

3 Rounds

Notable Investors:

BoxGroupBattery VenturesGreylock Partners

Notable Investors:

BoxGroupBattery VenturesGreylock Partners

$22,000,000

Series B

Dec 2023

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Below Average

Industry standards

Ind Avg. $35M

$4M

$22M

$30M

$45M

$65M

$100M

View all funding stages