Saviynt secures $205M in financing, welcomes back founder as CEO

LOS ANGELES –Saviynt has announced that it closed a $205 million round of growth financing from AB Private Credit Investors’ Tech Capital Solutions Group, and will use the funding to meet growing market demand for its intelligent identity and access governance solutions.

The news comes at the same time that Saviynt has welcomed back company founder Sachin Nayyar as their newly appointed corporate executive officer. Nayyar led Saviynt from its creation in 2011 till 2018 when he went on to return to another company he helped found, Securonix, which he led to over a billion dollars in growth investment led by Vista Equity Partners in 2022. He was replaced in his role at Securonix in December 2022 by Nayaki Nayyar (no relation).

“I am thrilled to return to Saviynt. Modern enterprises now realize they require a converged approach to identity security, one that is agile, cloud-based and will sly scale to manage and mitigate risk,” said Sachin Nayyar. “Saviynt anticipated this need when it was founded in 2011. Today, the company is positioned to meet this demand and accelerate our disruption of legacy identity security providers, including SailPoint. The new funding allows us to extend our Enterprise Identity Cloud platform advantage through continued innovation, enhance user experience, expand the platform to support emerging technologies such as OT and IoT and grow our technology partner ecosystem.”

Nayyar will succeed Amit Saha who moves into the position of chief growth officer and welcomes Paul Zolfaghari as president. Zolfaghari has over 20 years of experience in operating a software company. Most recently he was a Managing Director for private equity firm Carrick Capital partners, and before that President of enterprise software company MicroStrategy. Saha will be developing executable strategies to grow Saviynt’s identity platform and strategic relationships in his new role.

“We look forward to working with such a talented management team and prominent investor base at Saviynt,” said Alex Barry, Head of Originations for AB Tech Capital Solutions, a business unit within AB Private Credit Investors, the middle market direct lending platform of AllianceBernstein. Lewis Leavitt, Director for AB Tech Capital Solutions, continues, “The company’s strong financial performance and market opportunity supports our expectation for a long-term, successful relationship.”

“Saviynt is proud of our leading product innovation and our customer-centric philosophy, which we will maintain in our relentless pursuit to deliver a best in class experience, highest ROI, and lowest TCO for our growing customer and partner ecosystem,” said Paul Zolfaghari, President, Saviynt.

Saviynt was recognized for the Customers’ Choice distinction in the 2022 Gartner Peer Insight “Voice of the Customer” Identity Governance Administration for the second year running. In the same year the company released major new capabilities for its identity governance platform including cloud privileged access management (CPAM) and identity analytics. Saviynt says its latest growth funding represents its unwavering commitment to deliver the best identity solution to its customers. Following its launch in 2020 the platform has more than doubled its revenue and customers.

Learn more about Saviynt’s offering at saviynt.com.