NewCore Secures $66M to Address AI Agent Identity Management Challenges

NewCore, a cybersecurity startup, has emerged from stealth with $66 million in funding to develop a security-first identity platform tailored for enterprises integrating AI agents. The funding round was led by Cyberstarts, with participation from Index Ventures and Evolution Equity Partners, valuing the company at $300 million. NewCore's platform aims to address vulnerabilities in traditional identity management systems that are ill-equipped to handle the complexities introduced by AI agents. The platform treats AI agents as first-class identities, providing them with their own permissions and lifecycle controls. This initiative comes in response to the growing trend of companies employing AI agents alongside human workers, which poses significant security challenges. The founders believe that existing identity systems have become a weak link in enterprise security, necessitating a complete redesign for modern workforce dynamics. NewCore's approach includes features like Secure Split Key (SSK) and VisualMFA to enhance security and reduce risks associated with identity management.

Key Points: • NewCore raised $66 million to develop a modern identity platform for AI agents. • The platform treats AI agents as first-class identities with unique permissions. • Existing identity systems are deemed inadequate for the complexities of modern enterprises.