What happened
Cybersecurity startup NewCore emerged from stealth with £52 million ($66 million) in seed funding, led by Cyberstarts, Index Ventures, and Evolution Equity Partners, achieving a £236 million ($300 million) valuation. The company launched an identity management platform designed to authenticate, govern, and control both human and AI agents at scale. Co-founded by Zohar Alon (Dome9), Amihai Neiderman (Nym Health), and Erez Yarkoni (T-Mobile, Telstra), NewCore treats AI agents as first-class identities with dedicated permissions and lifecycle controls, addressing the hybrid workforce challenge exemplified by Goldman Sachs' use of AI agent Devin and McKinsey's 25,000 AI agents.
Why it matters
NewCore's agent-native identity platform prompts security architects and procurement teams to re-evaluate existing identity and access management (IAM) frameworks. Current human-centric systems, even those with AI agent capabilities from vendors like Okta and Microsoft Entra, risk security gaps and operational inefficiencies as AI agents proliferate. This shift necessitates dedicated lifecycle and revocation mechanisms for AI agents, impacting compliance and cost curves. This follows recent concerns about soaring AI costs and the need for tighter controls on employee AI access.
