Identity and access governance startup Clear Skye has completed a $14 million Series A funding round, bringing total funding for the company to nearly $20 million since its initial seed round in 2020. This latest investment was co-led by Storm Ventures and Toba Capital with participation from Point Field Partners and Inner Loop Capital.
The company will use these funds to expand its team, global footprint, and to continue reimagining the approach to enterprise identity governance and security. To achieve this, the company has expanded its leadership team welcoming a new CMO, Erin Duncan, who previously led product marketing at Saviynt; Jackson Shaw, Chief Strategy Officer, who led product management at Dell, One Identity, and Forcepoint; Mike Tierney, Senior Vice President, Customer Success; and Jen Ilsley, Vice President, HR and Operations. Arun Penmetsa, Partner at Storm Ventures, will join Clear Skye’s board.
This news comes on the heels of Clear Skye’s record growth in 2021, driven by the demand for improved data compliance, workflow management, and security to meet the needs of a distributed, cloud-first workforce. Strategic, customer-driven product updates and new capabilities enabled the company to achieve 5x revenue growth last year.
As a result, the company’s growing customer base includes ABB, West Fraser, Blackhawk Network, Premise Health, and more, who use Clear Skye to power their identity strategies.