Banyan Security Develops Zero Trust Remote Access Platform

Concept: California-based tech 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 VPN. It enforces least-privileged access to real-time services and applications, leveraging companies’ existing investments in corporate identity and security tools. The startup says the new platform is designed to adapt to a variety of environments.

Nature of the disturbance: Banyan’s 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 frictionless setup allowing the platform to be deployed in minutes without onboarding, cross-functional work, or requirements on existing organizational infrastructure. It consists of three features including TrustScore, Cloud Command Center and Distributed Access Tier. Using the Banyan app and integrations with user device manager and endpoint security tools, the platform provides a quantified metric of user and device security posture. Command Center is a Software-as-a-Service (SaaS) platform that allows users to write granular policies based on user and device rights. It issues short-lived tokens and certificates that provide one-click access to applications, while ensuring that every granted access is authenticated and authorized at all times. The distributed access tier enables one-click deployed, cloud-integrated, identity-aware reverse proxies that provide access to private applications and services.

Outlook: Due to the COVID-19 pandemic, the 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-premises directory services, granting users network access to static on-premises environments that cannot meet the demands of today’s remote workforce. Banyan Security says its Zero Trust Remote Access Platform enables organizations to provide employees with secure remote access to enterprise applications and cloud infrastructure. In January 2022, the startup raised $30 million in Series B funding led by Third Point Ventures and participation from SIG and Alter Venture Partners. It aims to use the funding to grow its sales, marketing and engineering teams.

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