NewCore Raises $66M for AI Identity Management Platform

A significant funding round has propelled NewCore into the spotlight, with the cybersecurity startup announcing a $66 million seed investment. This capital infusion, which values the company at $300 million post-money, is earmarked for developing a novel platform designed to manage the identities of artificial intelligence agents as they increasingly integrate into enterprise workflows. The round was spearheaded by the specialized cybersecurity venture firm Cyberstarts, with crucial participation from Index Ventures and Evolution Equity Partners.

The emergence of AI agents as functional employees, rather than mere tools, presents a complex challenge for organizational security. As companies like Goldman Sachs explore AI coding assistants and McKinsey deploys thousands of AI agents alongside human staff, the need for robust identity and access management for these digital entities becomes paramount. NewCore is positioning itself to address this gap, building a system that treats AI agents as distinct, governable identities with their own access controls and lifecycle management, akin to human employees.

The impetus for NewCore stems from a conviction that existing identity management frameworks, largely designed for human users over a decade ago, are ill-equipped for the scale and complexity of AI-driven workforces. Co-founder and CEO Zohar Alon, who previously founded and sold cloud security firm Dome9 to Check Point, articulated that these legacy systems are likely to falter under the strain of numerous AI agents operating concurrently. \"The scale and the complexity that these AI agents will introduce are going to break 15- or 20-year-old identity platforms,\" Alon stated.

NewCore's platform aims to unify the management of both human and AI identities within a single, cohesive system. The startup emphasizes that AI agents require granular permissions, auditing capabilities, and swift revocation mechanisms, differentiating them from simple service accounts. This approach is critical as AI agents are granted access to sensitive enterprise systems. The company's unique "split-key" architecture is designed to enhance security by distributing critical credentials, thereby mitigating single points of failure.

The founding team brings a wealth of experience, with CTO Amihai Neiderman having a background in AI and cybersecurity research from Unit 8200, and CCO Erez Yarkoni having served as CIO for major telecommunications firms like T-Mobile USA and Telstra. This blend of technical and operational expertise is crucial for navigating the intricate demands of enterprise security in the age of AI. NewCore also offers specialized integrations, such as its "Agentic Skill" package, which allows AI coding assistants from providers like Anthropic and OpenAI to securely access enterprise resources.

The market for identity management is substantial, with established players like Okta and Microsoft Entra already adapting their offerings. However, NewCore differentiates itself by building its solution from the ground up for a hybrid workforce of humans and AI. The company, now with over 50 employees across the U.S. and Israel, is preparing to transition from its design partner phase to commercial offerings this summer. The rapid advancement and adoption of AI agents suggest that solutions like NewCore's will be essential for organizations seeking to maintain security and control in their evolving digital environments.