NewCore raises $66M to manage identities for AI agents at work

In short: Cybersecurity startup NewCore has raised $66 million to help companies give AI agents their own controlled work identities.

What happened

NewCore, a cybersecurity startup, came out of stealth and announced $66 million in seed funding. The round was led by Cyberstarts, with Index Ventures and Evolution Equity Partners also participating. TechCrunch reports the deal values NewCore at $300 million after the investment.

NewCore’s focus is identity for AI agents. AI agents are software helpers that can take actions for you, like writing code or moving information between business systems. NewCore says companies will need to treat these tools more like workers, with their own accounts and rules, instead of sharing a generic “service account” (a single shared login).

The company’s product aims to manage human and AI agent identities in one place. It also offers a way for popular coding assistants, including Anthropic’s Claude Code, OpenAI’s Codex, and Cursor, to access company systems with managed permissions. NewCore also describes a “split-key” setup, which means the “keys” to access systems are divided between the customer and NewCore (like keeping two halves of a spare key in different places).

NewCore was co-founded by CEO Zohar Alon, CTO Amihai Neiderman, and CRO Erez Yarkoni. The startup says it has more than 50 employees across the US and Israel, fewer than 10 customers, and more than 10 design partners. It expects to start charging customers this summer.

Why it matters

More companies are using AI agents in day-to-day work. As that happens, a basic question becomes important: who, or what, is allowed to access company files and tools. NewCore is betting that giving AI agents clear identities and easy on and off controls will help reduce mistakes and limit damage if something goes wrong.

Source: TechCrunch AI