The round was led by Third Point Ventures, with participation from YL Ventures, Intel Capital and The Syndicate Group. The investment would bring Grip Security's total funding to $66 million and marks a major milestone for the company, further accelerating its go-to-market strategy and advancing product development. In today's rapidly transforming IT landscape, managing SaaS identity risks holistically has become a pressing need for chief information security officers (CISOs) and Grip Security is uniquely positioned to address this critical challenge with its groundbreaking platform.

Grip Security is a pioneer in SaaS identity risk management, providing innovative solutions to help enterprises address the security risks associated with widespread SaaS adoption. The company's SaaS Security Control Plane platform helps companies discover, prioritize, secure and orchestrate the mitigation and remediation of risks. The innovative approach of leveraging identity as the key control point allows companies to secure all SaaS applications and empowers enterprises to embrace SaaS adoption securely.