SAP SE invests in PlainID, a Tel Aviv, Israel-based cybersecurity company founded in 2015, that delivers business policy-based authorisation solutions.
NoCamels published in an article that PlainID announced SAP’s investment for the company. The amount was not disclosed.
The company was known for its dynamic and efficient solutions that leverage its policy-based control platform. In return, the company is able to deliver smarter decisions within its access management. They also give customers the ability to gain access control that will aid in streamlining their business processes and data management.
Oren Ohayon Harel, the CEO, and co-Founder of PlainID, together with Dmitry Tuchinsky and Gal Helemski, shared that the investment is a milestone for PlainID. He shared that SAP’s investment is a sign of confidence and trust, further noting that this delivers a sense of momentum and success.
Harel added that many businesses that utilise SAP solutions are also using the PlainID technology in the SAP Customer Data Cloud platform. He said that these companies include oil and gas, retail, and pharmaceutical companies listed on the Fortune 2000.
The Israeli cybersecurity company intends to maximise the SAP investment as an efficient way to deliver its solution to a larger audience. This will help companies in upgrading their access management and identity, which will allow growth on a new platform.
Ben Jackson, the general manager of SAP Customer Data Cloud at SAP, talked about PlainID and SAP’s working relationship, noting that together, the new offering has the ability to deliver a market-leading solution.
“We embedded PlainID’s Authorization as a Service platform within the SAP Customer Data Cloud to help businesses fill gaps around access management. We’re pleased to be extending our relationship through this investment in PlainID.”
Meanwhile, Gadi Krumholz, the VP for Corporate Development at SAP, said that the recent investment and partnership with PlainID is an epitome of how SAP proactively contributes to Israel’s innovation ecosystem. SAP previously developed a partnership with Totango, a customer success specialist and BigID, data discovery, and privacy vendor.
In 2017 SAP acquired the Israeli customer identity management firm, Gigya, for $350 million. In January, SAP announced that they are planning to recruit around 100 big data experts, team leaders, and software engineers to support SAP and Gigya’s development center in Tel Aviv.
In 1998, SAP established its first R&D center, which led the SAP Cloud Platform development for the company. Additionally, they specialise in user identity management and machine learning. This endeavor led to the development of internal innovation initiatives, startup acquisitions, and strategic partnerships.
By 2019, SAP announced the launch of its first foundry program led by its venture capital arm, SAP.iO, in Tel Aviv. Now, SAP’s goal is to expand the data center for developing advanced solutions for Israel.
Orna Kleinmann, the MD of SAP Labs Israel, shared that SAP works with Israeli startups that are expected to address the enterprise challenges and deliver further innovation this year.