Venice Raises $33 Million In Funding

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Venice, a cybersecurity startup specializing in adaptive privileged access management, recently emerged from stealth with a total of $33 million in funding, including a $25 million Series A round led by IVP. This funding positions Venice to challenge established players in the growing privileged access management (PAM) market.

Venice, founded in 2024 by CEO Rotem Lurie and CTO Or Vaknin, both cyber intelligence veterans, develops an adaptive PAM platform that provides real time, just in time access controls for human, machine, and AI identities across hybrid environments including cloud, SaaS, and on-premises systems. The New York City-based company, with a team of about 35 people (40% women), aims to modernize traditional PAM by eliminating standing privileges entirely, reducing them by up to 99% for its enterprise clients in sectors like finance, media, hospitality, manufacturing, healthcare, and technology.

The $25 million Series A follows a $8 million seed round and is intended to accelerate product development and market expansion. Investors highlight Venice’s potential to address escalating risks from AI driven attacks, where 86% of breaches involve compromised credentials. This capital infusion could enable faster deployment, Venice’s agentless platform installs in about 1.5 weeks versus months for competitors, potentially disrupting a market dominated by legacy solutions.

The PAM sector faces pressure from evolving threats, with enterprises managing tens of thousands of identities across dynamic systems. Venice’s focus on hybrid environments sets it apart, but success depends on proving scalability against well funded rivals.

Venice’s emergence from stealth mode with $33 million in total funding marks a significant entry into the cybersecurity landscape, particularly in the niche of privileged access management (PAM). This funding, comprising an $8 million seed round led by Index Ventures and a subsequent $25 million Series A led by IVP, underscores investor enthusiasm for innovative solutions addressing the vulnerabilities posed by standing privileges in increasingly complex enterprise environments. Founded in 2024 as Valkyrie and rebranded to Venice, the company positions itself as a disruptor in a market projected to grow from $5.94 billion in 2024 to $11.23 billion by 2030, driven by the proliferation of AI agents and hybrid infrastructures that exacerbate access risks.

At its core, Venice’s platform redefines PAM by shifting from static, legacy models, such as password vaults and manual approvals, to a dynamic, adaptive system that grants access only when necessary and revokes it immediately thereafter. This “zero standing privilege” approach applies across human users, machines, and AI driven entities, discovering identities and entitlements in hybrid setups encompassing cloud, SaaS, on-premises, and AI systems without requiring agents, proxies, or extensive deployments. Early adopters, including Fortune 500 firms in finance, media, hospitality, manufacturing, healthcare, and technology, report reductions in standing privileges by up to 99%, highlighting the platform’s efficacy in mitigating breach risks where 86% of incidents involve stolen credentials.

The funding round’s structure reflects strategic alignment with cybersecurity trends. The Series A was spearheaded by IVP, a firm known for backing high growth tech ventures, with continued support from Index Ventures, which led the seed, and additions from Vine Ventures and Holly Ventures. Angel investors bring domain expertise, including Assaf Rappaport (Wiz co-founder and CEO), Raz Herzberg (Wiz CMO), Dor Knafo and Gil Azrielant (Axis founders), and Descope founders, signaling confidence in Venice’s ability to navigate the identity security space. While specific use of proceeds isn’t detailed across sources, the investment is poised to fuel product refinement, team expansion (currently around 35 members, with 40% women), and go to market efforts targeting large U.S. enterprises with complex hybrid setups.

Venice’s leadership, led by co-founders Rotem Lurie (CEO, previously head of product at Axis Security and a product manager at Microsoft) and Or Vaknin (CTO, with early roles at Transmit Security and Flow Security), emphasizes a people centric approach to security. Lurie, a Forbes 30 Under 30 alumnus, has articulated the need for access controls that align with modern business tempos: “The way organisations manage access isn’t keeping up with how business operates today… Venice is on a mission to provide real time access, granted only when required, and removed the moment it’s not.” This vision resonates in an era where AI agents amplify both operational efficiency and threat vectors, necessitating tools that adapt in real time to behavioral and environmental shifts.

Competitively, Venice challenges incumbents like CyberArk (recently acquired by Palo Alto Networks and valued at $7.2 billion) and Okta, as well as emerging players such as Persona ($200 million Series D in 2025), Veza ($108 million Series D in 2025), and GitGuardian ($50 million raise in early 2026). Unlike many rivals focused solely on cloud, Venice’s hybrid compatibility, handling both modern and legacy systems, addresses a pain point for enterprises still reliant on on-premises infrastructure, consolidating up to 10 disparate tools into one SaaS based platform. Deployment efficiencies, powered by AI automation, reduce setup time to 1.5 weeks from the typical six months to two years, potentially lowering costs by minimizing professional services. Lurie boldly claims the company could unseat market leaders within 18 months, citing early displacements at major clients like a 170 year old manufacturing giant and a global music conglomerate.

Investor perspectives further illuminate the round’s rationale. IVP partner Cack Wilhelm praised the urgency: “If every individual is going to have tens of agents working on their behalf, and privileged access tools were built for a static world of IT professionals, we need our identity concept to adjust to that.” Index Ventures, having partnered since mid 2023, lauds the team’s lean efficiency and customer traction, noting the difficulty of building a fully integrable solution for hybrid environments as a barrier to entry that Venice has overcome. This backing aligns with broader industry shifts, where identity security spending is expected to surpass $24 billion in 2025, growing at 13% annually.

Social and industry buzz, as captured in recent X posts, amplifies the announcement, with endorsements from cybersecurity professionals and startup trackers highlighting Venice’s focus on adaptive controls for AI era threats. Posts emphasize the company’s New York City base and its rapid progress from stealth to serving global enterprises.

Looking ahead, challenges include market consolidation, where the sector might favor a few dominant players, and proving long term scalability amid crowded competition. However, Venice’s emphasis on comprehensive, root level solutions rather than incremental fixes, combined with its diverse team and strategic investors, positions it for potential leadership in redefining PAM for the AI age. The funding not only validates this approach but also equips Venice to pursue ambitious goals, such as broader adoption and further innovation in dynamic access management.

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