Venice, an adaptive privileged access platform formerly known as Valkyrie, has officially launched with $33m in total funding, including a $25m Series A, as it looks to redefine enterprise privileged access management (PAM) for the AI era.
The $25m Series A round was led by IVP, with participation from Index Ventures, Vine Ventures, Holly Ventures and a group of angel investors.
Venice aims to modernise PAM by identifying and controlling access across entire enterprise environments while eliminating standing access altogether. The platform delivers unified control across human, machine and AI-driven identities, ensuring that only authorised entities can access critical data and only for the necessary duration.
The company already serves Fortune 500 enterprises spanning finance, media, hospitality, manufacturing, healthcare and technology. According to Venice, its platform has reduced standing privileges by 99% among its customers. With women accounting for 40% of its workforce, Venice operates from offices in Tel Aviv and New York.
For decades, privileged access was managed through vaults, password rotation and manual approval workflows designed for on-premise servers and smaller IT teams. However, large enterprises now manage tens of thousands of identities across cloud, SaaS and automated systems, creating new challenges in monitoring and securing access.
Founded by cyber-intelligence veterans Rotem Lurie, CEO and previously head of product at Axis Security, and Or Vaknin, CTO and formerly part of the founding teams at Transmit Security and Flow Security, Venice provides real-time control over high-risk access across cloud, SaaS, on-prem and AI-driven environments.
The platform discovers identities and entitlements across hybrid infrastructures and grants access only when required, removing it immediately once it is no longer needed.
Rotem Lurie, co-founder and CEO of Venice, said, “The way organisations manage access isn’t keeping up with how business operates today.
“Teams move faster, environments shift constantly, and AI is accelerating operations across the enterprise and threat actors. Access control needs to match that tempo. Venice is on a mission to provide real-time access, granted only when required, and removed the moment it’s not. We appreciate the support of our investors as we bring this needed approach to the market.”
Cack Wilhelm, General Partner at IVP, said, “What stood out about Rotem and her team was their clarity of mission.
“Enterprises can’t rely on static access in a world where identities shift by the second, and AI is accelerating the speed at which attackers exploit privileged access. Venice’s adaptive system will set a new standard for how global organizations operate and protect themselves.”
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