Remediant Funding to Grow Channel Programs for MSSPs, Other Partners

Remediant, the provider of privileged access management (PAM) software, just got $15 million in a Series A investment round co-led by Dell Technologies Capital and ForgePoint Capital.

Remediant will use the funds to expand marketing and field operations, product engineering, channel and customer success programs.

Bryan Copeland, Remediant’s global head of channels, tells us his company works with a variety of channel partners including VARs, MSSPs, MSPs and consultants.

Remediant’s Bryan Copeland

“Specifically, we like and want to work with partners who appreciate and support innovative and disruptive technologies like Remediant,” he said. “We find these types of partners have the best interest of their customers in mind. For example, some partners go all in on legacy solutions, and in scenarios where they could bring in a disruptive technology, they often take the route of the solution that brings in the most services dollars. In many cases, this is not in the best interest of their customers and actually increases the overall total cost of ownership.”

Remediant plans to grow its channel programs with the investment in people and processes, and it has a “laser focus” on channel partners by treating them like customers, Copeland said.

“We will invest heavily in partner enablement through training and education, as well as thought-leadership events to shine a lens on the problems associated with privilege access across most organizations,” he said. “Our funding solidifies our place in the market. Gartner and others have continuously said privileged accounts are the No. 1 attack vector in companies today. This is telling the world loud and clear that legacy PAM solutions are missing the mark. Together with our partner community, we will be able to accelerate our messaging and capabilities to more organizations that are inherently struggling with this problem on a daily basis.”

Remediant’s revenue quintupled between 2017 and 2018, and its flagship SecureOne product saw rapid adoption by Fortune 1000 enterprises in the media, biotech, personal finance, health care and defense sectors.

The funding announcement is “sending a loud message” that the investment in Remediant is paramount in combating the deficiencies of legacy technologies in today’s PAM space, Copland said.

“It shows the market that significant investment is being put into an old problem that is not currently being solved at scale by the legacy approach to privilege access management,” he said.

“We’ve invested in Remediant because we have a shared vision of evolving legacy PAM solutions that are difficult to deploy, use and manage,” said Deepak Jeevankumar, Dell Technologies Capital’s managing director. “Remediant is redefining the way organizations approach PAM with its unique just-in-time administration platform that directly addresses credential theft — one of the biggest security challenges for IT and security teams, both on premises and in the cloud.”

“Remediant is one of those rare companies that started at the right time in the right space with excellent execution,” said William Lin, ForgePoint co-founder and partner. “Armed with their practitioner experience, Remediant has reimagined the PAM use case with a solution that has demonstrated scale, speedy time to value and comprehensive coverage across endpoints. We are excited to invest with this team focused on this important security category.”