Identity security provider Saviynt said on Wednesday it has raised $700 million in a growth funding round led by private equity firm KKR, valuing the company at about $3 billion, as demand rises for governance tools that can secure both human and AI-driven access within large organisations.
The Series B round included participation from Sixth Street Growth and cybersecurity-focused investor TenEleven, as well as additional investment from existing backer Carrick Capital Partners.
The company said the multi-firm round reflects growing conviction that identity security has become a critical layer of infrastructure for enterprises expanding the use of AI systems.
Saviynt’s platform manages access for employees, contractors, service accounts, machine identities and AI agents, covering privileged access, application governance and identity lifecycle management.
The company said organisations adopting AI models, copilots and autonomous agents increasingly need tools to govern non-human identities that can execute tasks and make decisions without direct supervision.
“This is a defining moment for Saviynt and the industry,” founder and CEO Sachin Nayyar said. “The demand for secure, governed identity has never been greater,” he added, saying new investment will support innovation and accelerate the firm’s strategy to secure identity infrastructure for AI-driven organisations.
Saviynt is “purpose-built for the AI era”
KKR managing director Ben Pederson said Saviynt is “purpose-built for the AI era” and that the firm will work with the company to scale its platform globally and expand its next-generation capabilities. KKR has previously invested in cybersecurity firms including Darktrace, Ping Identity and KnowBe4.
Saviynt said it now serves more than 600 enterprise customers, including over one-fifth of Fortune 100 firms.
The company has recently expanded into areas such as AI agent identity management and identity security posture management, and announced integrations with cloud and security providers including AWS, CrowdStrike and Zscaler.
The company said the new capital will be used to accelerate product development, support migration from legacy identity systems and deepen partnerships with cloud providers, software platforms and professional services firms.
