Showing that there’s real investor enthusiasm for identity management platforms, Saviynt, which enables companies to secure apps, data and infrastructure in a single platform, today announced that it raised $205 million in debt from AB Private Credit Investors’ Tech Capital Solutions group.
Founder Sachin Nayyar, who returned to Saviynt as CEO this week alongside newly-appointed president Paul Zolfaghari, said that the loan will be put toward expanding Saviynt’s platform, acquiring customers and growing the company’s partner ecosystem. He noted that the investment brings Saviynt’s total raised to date to $270 million following a $130 million debt raise in 2021, making Saviynt one of the better-funded startups in the identity management space.
Asked why Saviynt opted for debt as opposed to equity, Nayyar says that it was “the best funding option aligned to the company’s growth needs.” It’s also, perhaps, a reflection of the tough ec...
