London cybersecurity startup Ploy has obtained £2.5 million in funding to address growing security threats that result in identity-related breaches.
Established by former Metomic personnel, Jacob Prime and Harry Lucas, Ploy offers a cloud-first Identity Governance and Administration (IGA) platform. It automates identity and access management across Software as a Service (SaaS), cloud, and collaboration tools, assisting companies in reducing identity management time by up to 90%.
With 93% of organisations experiencing two or more identity-related security breaches annually and 80% of cyberattacks now exploiting identity-based vulnerabilities, businesses are confronting a growing identity crisis characterised by complexity and excessive spread of access.
Research suggests that each crucial identity-related security alert requires approximately 11 person-hours, creating extra pressure on already stretched security teams. The increasing use of Artificial Intelligence (AI) agents and non-human identities also introduces a new potential for attack that traditional identity tools are unable to adequately address.
Jacob Prime, CEO and co-founder of Ploy, commented: “Spreadsheet-based access tracking is now a legal and security liability. They need real-time visibility into who has access to what, before attackers or regulators find the gaps. That’s exactly the problem Ploy solves.”
Ploy’s platform provides real-time visibility and automation, enabling rapid processes for new employee induction, leaver offboarding, access requests, and reviews. Pre-built integrations allow companies to manage access within 20 minutes without the need for coding.
Designed for mid-market companies with up to 5,000 employees, Ploy combines modern cloud architecture with an embedded AI assistant, “Luna,” which helps security teams identify irregularities and make access decisions with richer context.
The platform has already secured over 1 million individual access entitlements and detected more than 26,000 SaaS applications across its customer base, which includes Payfit, Not On The High Street, Welcome to the Jungle, ComplyAdvantage, Liberis, and Times Higher Education. Customers have reported improved efficiency and quicker response to incidents since implementing Ploy’s technology. Having doubled revenue with a small team of four employees and previously secured funds from private investors in 2024, Ploy intends to use this new investment round to accelerate product development and global expansion.
Image source: Ploy
