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ConductorOne, an AI-native identity security platform, announced a $79 million Series B funding round, led by Greycroft with participation from CrowdStrike Falcon Fund and existing investors like Accel and Felicis Ventures. This brings their total funding to over $100 million. The funds will be used to enhance product innovation, expand enterprise adoption, and grow their team. ConductorOne aims to address identity management complexities with AI-driven solutions.

AI employees are coming. This startup wants to keep them secure. As identity-related cyberattacks increase, ConductorOne has raised $79 million to make sure employees - human or not - can securely access the work apps they need. ByAlicia Park, Contributor. I cover tech and innovation. The promise of AI agents is that they'll act like human employees, deployed autonomously on tasks like navigating the web, sending emails and Slacks and working in Google Docs. But that also means they'll need access to tons of applications, just like other staffers - creating additional work for IT teams managing that access, and increasing how vulnerable an organization is to identity-related hacks. Startup ConductorOne aims to eliminate that manual toil through a singular dashboard to help companies manage access for employees and agents alike, while flagging related security risks. "Identity is the way that companies are breached today and it's getting ten, a hundred times worse with the number of non-human and AI identities that are coming online," said Alex Bovee, CEO and cofounder of ConductorOne. ConductorOne's software can plug into existing applications, tracking who accesses what across the organization and automating requests for new access. That especially comes in handy during onboarding processes when IT teams typically would have to approve and set up access to every single application for each employee. Bovee said publicly traded cloud security company Zscaler was able to use ConductorOne to reduce its engineers' onboarding process from 20 days to 20 minutes. Now, ConductorOne has closed a $79 million Series B round led by Greycroft with participation from strategic investor CrowdStrike Falcon Fund and prior investors Accel and Felicis Ventures. The funding round values the company at $350 million, according to sources familiar with the deal. The startup told Forbes it tripled its revenue last year as it onboarded clients like ZScaler and fintech startup Brex. "A Brex employee should have the access that they need to do their job but no more than that access," said Brex CISO and ConductorOne angel investor Mark Hillick. He noted that automatic access approvals and smooth integration with existing applications are among ConductorOne's benefits, along with clear audit logs that show which user has accessed which application in a given time, so Brex can provide evidence of its access controls to regulators. After signing a year-long contract last year for ConductorOne's product, Brex has just renewed for a three-year contract. Bovee met his cofounder and CTO Paul Querna while at Okta, where he led the security giant's $15.6 million acquisition of Querna's identity authentication startup ScaleFT in 2018. Post-acquisition, the duo worked closely on developing Okta products like multi-factor authentication - which require employees to authenticate their identities with multiple devices to log into company accounts. They began to notice customers complaining about the hodgepodge of different cybersecurity software needed to manage access to applications, monitor who accesses what when and flag any risks in that activity. The duo realized there was an opportunity for a single solution that could do all three, which would make companies' systems more secure. "Part of the reason why companies are so easy to hack is because these solutions are all built separately and the hackers can get around one and not the other," said Accel partner Ping Li, who invested in ConductorOne in its 2020 seed round as well as the fresh Series B. That security is crucial at a time when companies are facing a surge in identity-related security breaches - for example, when hackers steal login credentials or guess employee passwords to break into company systems. Identity-related cyberattacks increased by 32% in the first half of 2025 alone, according to a report from Microsoft's security team. And companies are spending heavily to combat it: Multiple surveys of hundreds of IT professionals from ConductorOne, Omada Identity and Cisco all found more than 80% of companies' IT teams have increased their spending on tools and software to manage and detect identity-related threats over the last year. "Almost two years ago now, when we talked to different CISOs, identity had always been a top three concern or challenge. Now, it's the number one concern and challenge," Greycroft partner Marcie Vu says. "With the level of complexity that we see now, you need automation and AI in order to be able to address these challenges." ConductorOne sits in a very competitive market. Okta launched an identity governance product similar to ConductorOne's in 2022, and the startup faces other legacy players like Microsoft, Sailpoint and Palo Alto Networks, which acquired password management and authentication company Cyberark for $25 billion in July. It also competes with startups including Lumos (valuation: $205 million) and Opal Security ($112 million). "ConductorOne wanted to raise the money now because there's a lot of noise and growth in the space right now, and they need to get out and start establishing what their vision should really look like," Li says. Bovee said the team is looking to spend around 40% of the funding on product development, including hiring new engineers to strengthen the product and supporting existing customers. The rest will go to scaling up its sales and distribution teams with the goal of tripling revenue growth again next year to hit its target of $50 million in annualized revenue within the next two years. ByAlicia Park Alicia Park is a reporter and editorial fellow on the tech team. Previously, she gained reporting and editorial operations experience at CNN and Yahoo, as well as interned on the finance teams at Houlihan Lokey, e.l.f. Beauty, and Zoom. She graduated with a B.A. in History from the University of California, Los Angeles where she was an editor for the school's newspaper, the Daily Bruin. Subscribe today to keep reading. For only $1.50/week, unlock a world of unlimited insights and benefits to help you connect, grow and make an impact.

ConductorOne unveils multi-agent Identity Security platform.