ConductorOne Hauls in $79M to Modernize Identity Security

An identity security startup led by a longtime Okta director raised $79 million to address cybersecurity issues related to the rise of non-human and artificial intelligence-based identities.

See Also: Identity and Access Management (IAM) Market Guide 2025

San Francisco-based ConductorOne plans to use its Series B funding to modernize their identity stack by simplifying integration and management across fragmented systems, including identity governance, privileged access and traditional identity and access management, said co-founder and CEO Alex Bovee. ConductorOne’s platform distinguishes itself with a powerful connector ecosystem, AI-enhanced configuration tools and support for hybrid environments.

“[Lead investor] Greycroft has been doing a lot of AI investments,” Bovee told Information Security Media Group. “They had done a ton of work in the identity space, and we had a strong relationship. They also have a lot of deep relationships with large enterprises. They can help us open more doors, get into more opportunities and scale those relationships.”

ConductorOne, founded in 2020, employs 101 people and has raised more than $100 million, having last completed a $12 million Series A funding expansion in August 2023 led by Felicis. The company has been led since its inception by Bovee, who previously spent four-and-a-half years at Okta, culminating in a role leading the identity behemoth’s authentication, security, infrastructure, PAM and federal product lines (see: Defakto Raises $30.75M to Lead Non-Human Identity Space).

How ConductorOne’s Approach Differs From Legacy Providers

Traditional identity stacks were already straining under the weight of contractor, service and employee accounts, and they are now failing to manage the rapidly expanding landscape of agentic, machine-based and AI-driven identities. Companies often don’t fully understand what AI agents are operating in their environments or what access rights they hold, and he said this uncertainty introduces enormous risk.

“Companies don’t really understand what AI is being used in their environments,” Bovee said. “They don’t understand what agentic identities are. They don’t understand how to manage them and I think the traditional identity stacks are really breaking down around that.”

Identity is a complex domain, and addressing the full life cycle of identity management across large enterprises requires significant investment in capabilities and integrations, Bovee said. With hundreds of connectors already built, the company will continue to invest in additional modules that can stack on top of the platform as well as support for directories, IDPs, identity governance, PAM and more, he said.

“There’s a lot of complexity and depth to our products,” Bovee said. “We support hundreds and hundreds of integrations to different SaaS and on-prem technologies and custom homegrown technologies. We have lots of product capabilities. We have several product modules and so we are going to continue investing in additional product capabilities and launching more products on top of that platform.”

Unlike legacy providers that rely heavily on professional services to stitch systems together, Bovee said ConductorOne’s connectors are pre-built, out-of-the-box and simple to configure. Clients can integrate hundreds of apps in under four weeks, allowing for near-immediate time to value. The platform helps organizations build connectors using AI tools, configuration-driven templates and open-source components.

“We’ve built a huge range of out-of-the-box connectors that just work, that talk to all your technology, that are dead simple to configure,” Bovee said. “Our average customer goes live in less than four weeks, sometimes hooking up hundreds of applications in that time frame. And so we really pride ourselves on how simple and dead easy it is for our technology to use and how out-of-the-box it is.”

Why ConductorOne Has Prioritized Hybrid Identity Deployments

ConductorOne’s platform has quickly grown to support a wide variety of use cases across the identity life cycle, Bovee said, with a focus on visibility, access control, compliance automation and privileged access. Real-world customer pain points often help determine which capabilities – such as replicating permissions across application boundaries – get prioritized, and how quickly, Bovee said.

“We really are a very customer-driven company,” Bovee said. “We listen to our customers, we respond to our customers. We hear what they’re asking for, and we say yes to it. And we really just follow our customers’ leads at the end of the day in terms of product that we develop. We have a strategic road map, but ultimately, the products that we build, we do let our customers take us on that journey.”

ConductorOne’s hybrid-ready approach is based on the founders’ firsthand experience at Okta, where he saw that most companies have identity environments that combine on-prem directories, multiple cloud systems and custom tech stacks. Bovee said the company has ensured its platform could handle multiple sources of the truth, rationalize identities and maintain consistency across environments.

“We didn’t just build for the cloud. We recognized that most companies live in hybrid environments – multiple active directories, different sources of truth,” he said. “We embraced that complexity and made it simple to rationalize your users and identities and make it all work with your connectors. Solving that hard problem first let us scale into large enterprise, Fortune 100 businesses, and our tech works.”

Bovee said ConductorOne experienced 4x growth last year, is expected to do the same this year and the company is targeting 3x growth next year. Beyond revenue, Bovee said the company is beginning to track identities under management, feature usage – especially AI – and cross-SKU adoption, with a particular focus on expanding customer usage beyond initial deployments and become indispensable to organizations.

“We’re starting to track the number of identities under management, usage of AI features and more advanced capabilities,” Bovee said. “So, not just landing the product, but driving cross-sell and adoption of new SKUs, and making sure we’re creating value.”