Sphere Raises $10M in Series A Funding


Sphere, a Hoboken, N.J.-based cybersecurity business focused on providing software and services for access governance across data, platforms and applications, raised $10m in series A funding.

The round was led by ForgePoint Capital with participation from security leaders including Omkhar Arasaratnam (former Executive Director, Head of Data Protection Technology at JPMorgan Chase); Joel Caminer (former Global Head of Technology Risk Management and Information Security at TD Securities); Adnane Charchour (former President & CEO at Scivantage) and Sounil Yu (former Chief Security Scientist at Bank of America). Don Dixon and Will Lin, Managing Directors at ForgePoint Capital, will join SPHERE’s board of directors.

Led by Rita Gurevich, CEO and Founder, Sphere provides companies who are increasingly focusing on implementing a Least Privileged Access model, with a platform to minimize the risk of a data breach and implement access controls.

The company intends to use the funds to expand the scope of its existing capabilities, their managed service operations, including its purpose-built automation platform, SPHEREboard, along with targeted SMEs across the SPHERExperts team. Together, this solution is described as SPHEREsoftserve, combining automation and expertise to provide a seamless and effective solution to customers.  

SPHEREsoftserve provides a unified approach, improving processes and procedures leveraging technology and skillset for a consistent and predictable outcome. Additionally, It offers customized problem solving, combining the requirements to the unique nature and culture of each of its customers and providing flexible integration options to operationalize existing investments. All this increases adoption of core governance, security and compliance programs, expands coverage of access controls and improves ROI.