Denver, March 01, 2018 (GLOBE NEWSWIRE) --
Plug and Play, a Silicon Valley-based tech accelerator, announced earlier today that OverWatchID, a Colorado-based market leader in cloud-based converged identity security solutions, has been accepted into its first-ever cybersecurity accelerator. The cohort will run through May 10.
“OverWatchID is honored to be among the 15 companies included in the inaugural cohort of Plug and Play’s cybersecurity accelerator,” said Andy Funk, co-founder and CEO of OverWatchID. “The identity security market is projected to be more than $35 billion by 2020, and we look forward to connecting with Plug and Play’s renowned network of investors and mentors to continue to scale our rapid growth.”
Industry leaders selected OverWatchID for the program because they believe the converged identity security platform best addresses their current pain points when it comes to cybersecurity. The OverWatchID solution uses automation to deploy in days and covers privileged access management (PAM), identity access management (IAM), multi-factor authentication (MFA) and cloud access security brokering (CASB) in a single platform.
"Plug and Play has been working with startups for twelve years. Our goal is to match startups to corporations based on their interests to create mutually beneficial partnerships that embody the Plug and Play spirit of open innovation. This first batch of 2018 is already exceeding expectations," says Saeed Amidi, Founder and CEO of Plug and Play.
Earlier this week, the Denver Office of Economic Development announced that OverWatchID has been selected as one of seven companies for exclusive membership in the Denver ScaleUp Network. The company also filed a Form D on the strength of a $3.22 million equity financing round on February 16.
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About OverWatchID
OverWatchID is “Identity Security. ReinventedTM”. OverWatchID leverages more than 20 years of enterprise development experience in identity security and delivers a feature-rich platform that comprises privileged access management (PAM), identity access management (IAM), multi-factor authentication (MFA), and cloud access security brokering (CASB). OverWatchID’s patent-pending technology provides an assurance of security efficacy far beyond legacy PAM systems, and its rapid, frictionless deployment reduces subscription, implementation and administration costs by up to 80 percent. OverWatchID is headquartered in Denver, Colorado. www.overwatchid.com.