By: Jake Smiths
Cybersecurity investors have spent years funding new identity platforms. A reported $20 million round for Way Security, co-led by Insight Partners and Glilot Capital, suggests some capital may now be moving toward companies that help enterprises improve the platforms they already have. Axios broke the news of the round.
A Signal for the Identity Security Market
As reported by Axios, the investment reflects growing recognition that IAM remains one of the spaces in cybersecurity still facing room for disruption, despite years of attempted innovation, because it remains heavily service-dependent.
As AI-driven attacks accelerate and traditional network perimeters continue to disappear, identity has become a key control plane for enterprise security. Yet IAM programs can continue to face slow deployments, high implementation costs, and heavy dependence on professional services that has, over time, grown into an ecosystem larger than the software market underneath it.
The Deal
Insight Partners and Glilot Capital are backing an opportunity that may extend beyond the IAM software market itself. With implementation and operational services often costing three to five times more than the software, Way Security’s founders are targeting a market opportunity larger than licensing alone.
“Identity is one of the most critical layers of enterprise security, yet organizations still struggle to operationalize their investments efficiently,” said Jeff Horing, Co-Founder and Managing Director at Insight Partners. “Way Security is addressing a large and persistent gap between IAM software and real-world execution.”
The Founders
Way Security was founded by Yossi Barishev and Yonatan Rosenberg, both former security leaders who spent years helping large enterprises navigate identity, governance, and security challenges. They also advised Fortune 500 organizations through complex identity initiatives.
Their time leading incident response for major cyber incidents showed them how weak identity controls can become a root cause or critical enabler of successful attacks. Rosenberg’s background as an officer in Israel’s Unit 8200 adds an offensive security perspective to the founding team.
“As investors, we’re constantly looking for the rare combination of an exceptional team, a massive market opportunity, and a differentiated approach,” said Nofar Amikam, Managing Partner at Glilot Capital. “With Yossi and Yonatan, all three were evident from our very first meeting. They possess a deep understanding of the identity challenges facing large enterprises because they’ve lived them firsthand, and they’ve built a fundamentally better way to solve them.”
The Platform
Way Security describes its AI-powered agentic platform as a system designed to automate operational tasks required for identity teams to deploy, manage, and maintain existing IAM investments, rather than requiring organizations to replace or replatform their systems.
Using agentic execution capabilities trained on real-world IAM workflows, the platform is designed to automate activities that traditionally required consultants, system integrators, and internal engineering resources, including lifecycle management, access governance, authentication, and policy enforcement across the enterprise.
That includes legacy, homegrown, and custom applications that do not support standard federation protocols. According to the company, the platform connects those applications to the IGA, IdP, and authentication controls an organization already owns, extending single sign-on, multi-factor authentication, and access reviews across a broader environment rather than only the systems built to support them natively.
Early Adoption
Way Security says it is already working with enterprise customers across multiple industries, including Fortune 500 companies, global healthcare organizations, and financial institutions.
Implications for the Category
Way Security plans to expand in the U.S. as organizations increasingly prioritize identity as a foundation of modern cybersecurity. If the company executes on that plan, it may influence how investors and enterprises think about where value sits in the IAM stack, shifting attention away from platform licensing alone and toward the execution layer that has long absorbed a significant share of enterprise spending.
For Way Security, the round positions the company to continue building around a problem its founders say they understand from direct experience: helping organizations operationalize identity security across complex, existing environments.
