BalkanID, an Austin, TX-based developer of an AI-powered Cloud Access Governance solution, secured an additional $2.36 million in seed financing, bringing the total of its seed round to $8.1 million.
The round was led by K2G Tech Fund, GIT1K Club, Firsthand Ventures, MGV, NKM Capital, and others, along with some existing investors.
The company intends to use the funds to accelerate its growth.
Led by Subbu Rama, co-founder and CEO, BalkanID has developed an AI-Powered Intelligent Access Governance platform built for cloud native environments, which enables companies to identify and remediate potential risks associated with permissions sprawl across their SaaS and cloud landscape, prior to becoming a threat to the business. Its subscription-based platform leverages data science to provide visibility into risky entitlements and simplifies the access review and certification process using a combination of AI, decision support and workflow automation.
Since its launch out of stealth in May 2022, BalkanID received SOC-2 Type II Compliance.