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The Series A funding comes just 8 months after the company exited stealth, and 4 months after earning the backing of SVCI’s elite CISOs from Adobe, Elastic, Google, HashiCorp, and more
Token Security, a leader in non-human identity security, announced today $20 million in Series A funding led by Notable Capital, with participation from existing investor TLV Partners, and executives from leading cybersecurity companies like Palo Alto Networks, CrowdStrike, Check Point, and Venafi. The round comes just eight months after the company emerged from stealth, bringing total funding to $27 million. Token has seen rapid adoption since its launch, with customers including HPE and Hibob.
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Recent cyberattacks reveal a dangerous new trend: hackers are bypassing traditional security by targeting the automated systems that keep modern enterprises running. When state-sponsored attackers breached Microsoft and Cloudflare in early 2024, rather than going after employee passwords and accounts, the attackers compromised machine credentials instead. These machine identities — from cloud service credentials to automated system accounts — are multiplying rapidly as organizations embrace modern cloud architectures and as AI agents become a part of the daily workforce. A typical enterprise now has orders of magnitude more machine identities than human users, creating countless potential entry points for attackers.
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“Hackers don’t break in; they log in,” said Itamar Apelblat, Co-Founder and CEO of Token Security. “Enterprises have done a good job securing human identities with things like multi-factor authentication, but automated systems are different. Any enterprise can pull up a list of their employees in seconds and track who has access to what. But ask them about their machine identities, and most can’t even tell you how many they have, let alone what they’re doing. When security teams identify a potential risk, figuring out who’s the human owner behind the automated process and what it’s supposed to be doing turns into a lengthy investigation that delays critical fixes and leaves systems exposed.”
Token Security solves this challenge by helping organizations discover, manage, and secure every non-human identity across their infrastructure. The platform integrates with a company’s entire technology stack, including existing identity providers, to map all machine credentials, whether they are cloud-based, SaaS solutions, or on-prem. It then automatically pinpoints who in the organization is responsible for each, and how the identity is being used. This direct connection between non-human identities and their human owners ensures swift remediation of security issues while maintaining the rapid pace of development and innovation.
“The explosion of machine identities, accelerated by agentic AI adoption and cloud-native architectures, has created an urgent need for a new approach to manage and secure non-human identities,” said Oren Yunger, Managing Partner at Notable Capital. “Token Security has emerged as the clear leader in this emerging space with the most robust and holistic product approach. Having invested in category-defining companies like HashiCorp, we recognized immediately that Token’s machine-first approach and exceptional team were building exactly what the market needed. This is evident in how quickly leading CISOs have embraced Token. The company’s remarkable traction and exceptional execution position it to reshape how enterprises secure the rapidly expanding machine identity landscape.”
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