When we conducted our 2023 CISO Village survey, identity security emerged as one of the top areas where budgets were being allocated. The consensus was clear: existing solutions weren’t meeting the needs of modern enterprises. Organizations are grappling with fragmented identity environments, outdated processes, and constantly changing security requirements. There was no question that there is a massive opportunity for disruption in the identity and access management space – the only question was how.
Team8’s intimate relationships with our CISO village helped us uncover an extremely painful problem, which Orchid was able to tap into. Orchid emerged from this process as a solution to one of the most pressing issues in enterprise IAM. By addressing the challenges identified through our close engagement with Fortune 500 CISOs, Orchid has positioned itself as a game-changing platform for enterprises worldwide.
The Identity Challenge: Fragmentation and Complexity
Enterprises today manage an average of 1,200 applications across on-premise, cloud, and SaaS environments. Non-SaaS – self hosted applications across various hosting environments, along with evolving protocols, identity stack, and compliance requirements significantly contribute to a highly fragmented and inefficient IAM ecosystem. Onboarding these applications into identity providers is a painfully manual process that often takes years and relies on costly professional services. For many organizations, this results in limited visibility, poor governance, and heightened security risks.
Meet the Team Behind Orchid
Behind every great company is a great team, and Orchid’s founders bring unparalleled expertise.
Roy Katmor, co-founder and CEO of Orchid, is someone we’ve admired for years. As the co-founder of enSilo, which was acquired by Fortinet, Roy has proven his ability to lead and execute in the cybersecurity space.
Robert Wiseman, another of Orchid’s co-founders, is no stranger to Team8. In his last two roles, Robert served in a leadership role at Claroty, a Team8 unicorn, and as a Vice President and Team8 Enterprise.
Joining them is Ido Kelson, Roy’s co-founder at enSilo and a recognized engineering executor in cybersecurity across its various domains. Throughout his career, he has led engineering teams in both startups and large enterprises.
Together, this seasoned team of industry veterans knows what it takes to build successful companies, and their collective experience is a key reason we’re so excited about Orchid’s potential.
Our Investment in Orchid
At Team8, we invest in solutions that address critical challenges, and Orchid’s mission aligns perfectly with our approach. The problem of a sprawling application estate combined with fragmented identity security is something that CISOs have been struggling with for years.
Orchid exemplifies the Team8 Venture-Creation process. From early conversations with CISOs to building a platform that delivers real, measurable value, Orchid’s process has represented a hallmark of what we aim to achieve.
Orchid is bolstered by a $36 million seed funding round, co-led by Team8 and Intel Capital, with additional support from CapitalOne and industry leaders like Jeff Williams (FireEye, Cisco, McAfee), Dror Davidoff (Aqua), and Zohar Alon (Dome9, Check Point).
Intel Capital, recognized the potential of Orchid early on. Starting as a prospect, Intel saw firsthand the value Orchid brings before deciding to invest. The traction Orchid has gained with leading enterprises, including Fortune 500 companies like Costco and Repsol, further validates its relevance and scalability.
Shaping the Future of Identity Security
Orchid is not just solving today’s problems; it is an infrastructure, building the future of identity security. Its vision of creating the first identity fabric capable of discovering, assessing and integrating any application with any identity provider is ambitious but achievable. By giving CISOs full visibility into their identity controls, automating processes that once took years, and enabling painless remediation, Orchid is setting a new standard for enterprise IAM solutions.
As Orchid continues to grow, we remain committed to supporting its journey. We’re proud to be part of this story and excited to see the impact Orchid will have on enterprises worldwide.
For more information; visit orchid.security.
