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Securing Machine And User Access

Growth of machine agents and tighter regs drive controls; winners guard runtime access with least privilege, strong auth, and wide connector coverage.

Context: Keycard | Unified Identity Infrastructure for AI Agents

Analysis Overview

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42
Companies
1340
Headcount
$518M
Total Raised

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Active this week:
Greylock
general catalyst
Accel
a16z
khosla
2048
Meritech
Thrive Capital
aix
altos
bain capital
bessemer
canaan
costanoa
emergence
iqt
lerer
madrona
next47
norwest
ribbit
scale
summit

Technical Risks

Fragile federated-claim interoperability

Effective deployment hinges on consistent federated-claim semantics across identity providers, but the report highlights interoperability and cross‑provider claim semantics as operational challenges. This brittleness can undermine uniform policy enforcement and increases integration risk in multi‑IDP environments youtube.com.

Edge policy scaling and latency penalties

Edge-enforced checks and continuous policy evaluation introduce practical trade‑offs around latency and edge policy scaling, which can erode the performance benefits needed for high‑throughput agent interactions. These scaling and latency frictions raise ongoing operational costs and reliability risks at the edge youtube.com.

Dependence on high‑fidelity telemetry for risk decisions

The model relies on high‑quality, timely telemetry to drive continuous access evaluation and risk‑based revocation; the report flags telemetry fidelity for risk decisions as a key concern. Incomplete or noisy signals can lead to incorrect real‑time revocations or continued access, weakening the intended security gains of CAE youtube.com, learn.microsoft.com.

Complete Analysis

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Highlighted Companies

(Pre-seed to Series A)

CompanyFoundedLast RoundTier One Prob. (%)Team Score (%)IndustryLocationFTE
Credal.ai
Credal.ai
Smart Enterprise Agents
01/2022
Series A
11/2024
10046B2B EnterpriseNYC15
Geordie AI
Geordie AI
Risk-Aware Agent Management
01/2025
Seed
09/2025
10042B2B CybersecurityLondon23
7AI
7AI
Agentic Security Service
01/2023
Seed
02/2025
10040B2B CybersecurityBoston52
Wildcard (YC W25)
Wildcard (YC W25)
Background Code Agents
01/2024
Pre-Seed
03/2025
8740B2B Engineering, Product and DesignSFBA2
Alter (YC S25)
Alter (YC S25)
Secure Agent Access
01/2025
Pre-Seed
09/2025
7550B2B CybersecuritySFBA3
Alterion
Alterion
Agent Management Control
01/2025
-
-
3760AI InfrastructureSFBA4
Keystle
Keystle
Passwordless Security Authentication
01/2025
-
-
2547B2B CybersecurityBoston5
Stochastic
Stochastic
Human-like AI Agents
01/2022
Pre-Seed
09/2024
747AI InfrastructureNYC31
8 companies • Get your own research: Email to agent@olymposhq.com with subject "fetch" and link in body

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