AppViewX Raises $20M in Series B Funding to Help Organizations Reduce Risk from Growing Machine Identities

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NEW YORK–(BUSINESS WIRE)–AppViewXthe leader in automated machine identity management (MIM) and application infrastructure security, today announced that the company has raised $20 million in a funding round Series B. Led by a growth capital firm and an existing investor, Brighton Park Capital (“Brighton Park”), the additional investment will help maximize AppViewX’s go-to-market operations, product development and overall revenue growth strategies as part of its mission to help organizations in the Global 2000 reduce risk by securing and orchestrating corporate identities and applications.

Through its automation platform, AppViewX reduces risk and ensures compliance in many of Fortune’s most demanding organizations in financial services, banking, healthcare, oil and gas, manufacturing and high technology. The company is seeing a significant shift in revenue to its SaaS offerings and is currently boasting an unmatched customer retention rate. Despite industry-wide challenges related to the COVID-19 pandemic, the company has also nearly doubled its workforce since 2019, bolstering its customer success, engineering and go-to-market teams across the world.

“Due to digital transformation initiatives and the accelerated shift to multi-hybrid cloud, the number of machine and application identities has grown exponentially,” said Gregory Webb, CEO of AppViewX. “To reduce their digital risk, organizations recognize the importance of machine identity management, but there is a lack of mature certificate lifecycle capabilities stemming from outdated manual tools and siled tactics. AppViewX enables organizations to reduce this growing risk through our automation platform, which facilitates digital transformation through streamlined workflows to prevent outages and reduce security incidents.

Gregory continued: “We are delighted with the additional investment from Brighton Park, which is a testament to our overall growth and momentum, and we look forward to continuing to leverage their technology expertise as we grow the business.

Growth also includes three new strategic hires, each with proven experience in transforming growth strategies and streamlining complex processes:

  • Samantha Symonds as Vice President of Legal Affairs, oversees all legal, corporate governance and compliance functions.
  • Phil Biegler As Senior Vice President, Customers, acting on behalf of Voice of Customers, Phil leads the global aftersales organization to ensure AppViewX customers derive value and ROI of their partnership with the company.
  • Bryan Grabowski as The VP of Alliances supports the company’s GTM strategy and will lead and evolve AppViewX’s channel ecosystem to generate new opportunities and maximize partner profitability.

“Brighton Park is proud to invest in companies that are revolutionizing or disrupting their market,” said Mike Gregoire, Partner and Co-Founder of Brighton Park. “AppViewX is doing exactly that by automating machine identity management to help some of the world’s largest organizations prove their success on board-level topics like reducing business risk and compliance. We look forward to continuing our partnership with AppViewX as the company continues to innovate and advance the Machine Identity space.

About AppViewX

AppViewX is trusted by leading global organizations to reduce risk, ensure compliance and increase visibility through machine identity management and application infrastructure security and orchestration. With speed and agility, our automation platform facilitates digital transformation with streamlined workflows to prevent outages, reduce security incidents, and protect both your reputation and your bottom line.

The AppViewX Platform is a modular software application that enables the automation and network infrastructure orchestration using an intuitive, context-aware visual workflow. It quickly and easily translates business requirements into automation workflows that improve agility, enforce compliance, eliminate errors, and reduce costs.

AppViewX automates NetOps, SecOps, and DevOps for Fortune 1000 companies, including six of the top ten global commercial banks, five of the top ten global media companies, and five of the top ten managed healthcare providers. AppViewX is headquartered in New York with additional offices in the UK, Australia and three Development Centers of Excellence in India. For more information, visit https://www.appviewx.com.

About Brighton Park Capital

Brighton Park is a Greenwich, CT-based investment firm specializing in software, healthcare and technology services. The firm invests in companies that provide highly innovative solutions in partnership with large management teams. Brighton Park brings purpose-built value-added capabilities that match the unique requirements of each of its businesses. For more information on Brighton Park, please visit www.bpc.com.

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