$14M Raised by Clear Skye for its Cloud-Native Identity Security and Governance

Business News News March 30th 2022

Clear Skye, an identity security and governance solution provider is a company that built its cybersecurity offering natively on ServiceNow. The company has recently raised $14 million in a Series A round. It has increased the company’s total investment to around $20 million since its seed round held in 2020.

Clear Skye is known as ServiceNow native identity security and governance system. The firm reimagines corporate identity access and risk management by allowing enterprises to utilize a familiar interface, giving greater identity control and information, and also establishing a connection between IT and businesses.

Clear Skye is focused to eliminate friction, boost productivity, and speeding up time-to-value by breaking down silos between functional areas like HR, IT, SecOps, and GRC.

The funded money will be used to grow the organization’s personnel and worldwide reach, and also to continue reinventing business identity governance and security. In order to do so, Clear Skye has already appointed a new Chief Marketing Officer (CMO), Erin Duncan, who has previous experience in leading a company at Saviynt. Also a new Chief Strategy Officer – Jackson Shaw is appointed, who has previously led product management at Dell, One Identity, and Forcepoint, along with a new Senior Vice President, Customer Success, and a new Vice President, HR, and Operations – Jen Ilsley.

Storm Ventures Partner Arun Penmetsa is going to join a board of directors at Clear Skye.

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The Operation, Workflow Management, Security, and Compliance

This money raised by Clear Skye will accelerate the work of providing better data compliance, workflow management, and security so as to meet the demands of a dispersed, cloud-first workforce. Last year, the firm generated 5x revenue growth due to its strong strategic, customer-driven product improvements and new capabilities. This is why come leading companies like ABB, West Fraster, Blackhawk Network, Premise Health, and others are turning to Clear Skye to fuel their identity initiatives.

John Milburn, Chief Executive Officer (CEO) at Clear Skye said, “As Clear Skye is the only IGA solution built natively on ServiceNow, it has the unique stability to remove friction from business processes related to governing application access, all of this while increasing efficiency and extending customers’ investment in their existing business platform. Clear Skye is effective and easy to use eliminates the burden associated with massive tech overhauls and delivers value right from the beginning.

Arun Penmetsa, Partner at Storm Ventures and the newest member of Clear Skye’s BoD said, “Nowadays, workers have access to many appliances which is a challenge for identity and governance teams that has the task to access control, compliance management, and individual monitor and enterprise-wide threats. Clear Skye takes into consideration these needs through a modern platform without the effort of replacing legacy IT systems. He further added, our investment in the company reinforces our values and beliefs of extending identity beyond risk and security in order to embrace enhanced operations and IT workflows that will improve the overall business outcomes.

Clear Skye will allow businesses to complete these tasks in a few hours only, by providing the staff with the tools that they need to get the job done while avoiding organizational silos that lead to data loss or data separation.

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All About The Investors:

A Silicon-Valley based Storm Ventures is an early-stage venture capital firm. The company has invested in category-leading businesses like Talkdesk, Workato, MobileIron, Marketo, Airespace, Tekion, Pipedrive, Algolia, Salesloft, and many others for over 20 years. It has also funded over 150 firms from cybersecurity, healthcare, infrastructure, marketing, HR, sales, etc. Storm Ventures is also an achiever of “top-tier” returns for investors across six funds and has also developed a unique model to identify, invest in and build global enterprise leaders.

Toba Capital is a single limited partner early-stage investment business that is dedicated to assisting in the creation of an extraordinary technological firm.

Inner Loop startup capital firm focuses on cybersecurity, cloud infrastructure, and data analytics.

Point Field Partners is a Baltimore-based firm that specializes in direct venture capital, private equity, and real estate investments.

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