USA – Saviynt, a Los Angeles, CA-based provider of intelligent identity and access governance solutions, raised $205M in Growth funding.
The round was led by AB Private Credit Investors’ Tech Capital Solutions group.The company intends to use the funds to meet the market’s demand for its converged identity platform and accelerate innovation. Saviynt provides an Enterprise Identity Cloud that helps enterprises scale cloud initiatives and solve the toughest security and compliance challenges on time. The company brings together identity governance (IGA), granular application access, cloud security, and privileged access to secure the entire business ecosystem and provide a frictionless user experience.The company also appointed its founder Sachin Nayyar as the new Chief Executive Officer. Nayyar first led Saviynt from inception in 2011 to leadership in the identity governance market in 2018, exponentially increasing its revenue and customers during his initial tenure. He rejoins Saviynt after serving as founder and CEO of cyber security company Securonix, which he led to a $1 billion+ growth investment led by Vista Equity Partners in 2022. Seasoned executive Paul Zolfaghari joined Saviynt as President with over twenty years of software company operating experience. He was most recently a Managing Director at private equity firm Carrick Capital Partners. Prior to that, Zolfaghari was President of enterprise software company MicroStrategy (NASDAQ: MSTR.) Former Saviynt CEO Amit Saha will be taking on the new role of Chief Growth Officer, where he will develop and execute on strategies to grow the company’s converged identity platform and strategic relationships. 31/01/2023
