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NewCore Emerges with $66M to Revolutionize AI Agent Identity Management

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Cybersecurity startup NewCore has launched from stealth, securing $66 million in funding with a mission to address a forthcoming challenge for companies using AI agents: managing their authentication, governance, and control on a large scale.

  • Funding Details: The seed round is led by Cyberstarts, with participation from Index Ventures and Evolution Equity Partners, valuing the company at $300 million post-investment.
  • Industry Context: As firms integrate AI agents into their workforce, with examples like Goldman Sachs and McKinsey incorporating AI agents, NewCore aims to provide a solution for managing these digital workers akin to human employees.
  • Founders: Co-founded by Zohar Alon, former founder of Dome9, along with Amihai Neiderman and Erez Yarkoni, the team brings significant experience from industries like telecom and healthcare AI.
  • Identity Management: NewCore's platform proposes treating AI agents as 'first-class identities,' offering unique life cycle controls and permissions. This contrasts with traditional identity systems that incorporate AI agents as secondary elements.
  • Innovation & Vision: The platform employs a “split-key architecture” to enhance security and an “Agentic Skill” integration package for coding assistants, demonstrating a proactive approach to identity management in the era of AI.
  • Market Position: Despite the enhancements by established identity providers like Okta and Microsoft’s Entra, NewCore differentiates itself by being built for a hybrid workforce of humans and AI from the ground up.
  • Scalability Concerns: Alon forecasts a paradigm shift where AI agents could outnumber human employees in tech-oriented firms, highlighting an urgent need for robust identity systems and governance frameworks.
  • Growth Prospects: With a current team over 50 strong in the U.S. and Israel and several design partners, NewCore is set to begin charging customers, aiming to fortify AI governance structures across various sectors.