Veza Launches AI-Powered Identity Security Solution, Secures Investment from J.P. Morgan

Identity security company Veza has launched Access AI, a groundbreaking tool that leverages generative AI technology to address the complex challenges of enterprise access management. Alongside this launch, Veza has secured a significant investment from global financial services leader J.P. Morgan, further validating their innovative approach to cybersecurity.

“Two years ago we changed the game in identity access with our Access Graph, and now we are doing it again with Access AI,” said Tarun Thakur, co-founder and CEO of Veza. “Veza is the first company to apply AI to manage and secure entitlements across SaaS systems, cloud data systems, identity systems, and infrastructure services.”

Access AI offers a sophisticated, AI-powered interface that enables security and identity teams to efficiently manage access rights. Key capabilities include understanding natural language queries about entitlements, comprehending access patterns for both human and non-human identities, recommending roles aligned with least privilege principles, identifying and flagging excessive or dormant permissions, and automating the creation of ITSM tickets with detailed remediation instructions.

The urgency of such solutions is underscored by recent industry data. According to the Identity Defined Security Alliance, a staggering 90% of organizations experienced identity-related incidents in the past year, with 84% reporting direct business impacts. In response, companies are increasingly investing in advanced security processes such as Access Entitlements Management, Identity Security Posture Management (ISPM), and Identity Threat Detection and Response (ITDR).

The effectiveness of Access AI is already evident in real-world applications. Matthew Sullivan, Infrastructure Security Team Lead at Instacart, shared his experience; “Nearly every discovery made by Veza’s AI has prompted an immediate response from our team. With hundreds of thousands of entitlements to oversee, leveraging AI-driven automation has been essential to staying proactive.”

Veza’s innovative approach has attracted significant financial backing, including a recent investment from J.P. Morgan. This latest funding round brings the company’s total investment to $132 million, providing substantial resources for continued product innovation and market expansion.

Alongside Access AI, Veza has introduced several enhancements to its core platform. These include improved security measures for non-human identities, advanced lifecycle management capabilities, and expanded access intelligence for privilege threat hunting and privileged access assurance.

As organizations navigate the evolving landscape of digital security, Veza’s AI-driven approach to identity management represents a potentially transformative solution. The combination of advanced AI capabilities, substantial financial backing, and positive early adopter feedback positions Access AI as a significant development in the field of cybersecurity.

The introduction of Access AI marks a notable step forward in addressing the complex challenges of modern enterprise security. As digital ecosystems continue to expand and evolve, solutions like Access AI may prove instrumental in maintaining robust security postures while enabling the agility required in today’s dynamic business environment.