Concept: California’s technological startup Banyan Security has developed a zero-trust remote access platform that enables employees, developers, and third parties to remotely access on-premises, hybrid, and multi-cloud infrastructure and applications without VPNs. It enforces least-privileged access to services and applications in real-time, leveraging the companies’ existing enterprise identity and security tool investments. The startup claims that the new platform is architected to accommodate a diversity of environments.
Nature of Disruption: Banyan zero trust remote access platform is built on a patented zero trust architecture that can continuously enforce trust-based access policies based on any combination of users, devices, and application contexts. The platform offers a frictionless setup enabling the deployment of the platform in minutes with no integration, cross-functional work, or requirements on any existing organizational infrastructure. It consists of three features including TrustScore, cloud command center, and distributed access tier. By using the Banyan app and integrations with the users’ device manager and endpoint security tools, the platform provides a quantified metric of the user’s and the device’s security posture. The Command Center is a Software-as-a-Service (SaaS) platform that enables users to write granular policies based on user and device entitlements. It issues short-lived tokens and certificates that offer one-click access to applications, while also ensuring every access granted is continuously authenticated and authorized. Distributed access tier enables click-button deployed, cloud-integrated, and identity-aware reverse proxies that enable access to private applications and services.
Outlook: Due to the COVID-19 pandemic majority of organizations across the world are promoting the work-from-home (WFH) model for their employees. Traditionally organizations have relied on network tools including VPNs, bastion hosts, and firewalls to manage access to private applications and servers. These tools were designed to integrate with on-premise directory services, granting users network access to on-premise static environments that cannot support the demands of the present-day remote workforce. Banyan Security claims that its zero trust remote access platform enables organizations to provide secure remote access for employees to corporate applications and cloud infrastructure. In January 2022, the startup raised $30M in Series B funding led by Third Point Ventures and participation from SIG and Alter Venture Partners. It aims to use the funding to expand its sales, marketing, and engineering teams.