NewCore raises $66M to solve the coming identity crisis for AI agents in the workplace

Cybersecurity startup NewCore emerged from stealth on Monday with $66 million in seed funding, betting that the rapid adoption of AI agents in the workplace will force companies to rethink how they manage digital identities. The round was led by Cyberstarts, with participation from Index Ventures and Evolution Equity Partners, and values the company at $300 million post-investment.

Treating AI agents as first-class digital employees

NewCore’s core thesis is straightforward: as companies increasingly deploy AI agents that act autonomously — writing code, analyzing data, or interacting with internal systems — those agents need their own secure identities, permissions, and lifecycle controls. The startup argues that existing identity platforms, built for human employees and static service accounts, are ill-equipped to handle the scale and complexity of a mixed workforce of humans and autonomous software.

Co-founder and CEO Zohar Alon, who previously founded cloud-security firm Dome9 before its acquisition by Check Point, said the idea crystallized in 2023 while reviewing a company’s technology budget. The firm was using a major identity provider and paying a substantial bill. When Alon asked if the customer was satisfied, the answer was a blunt no. That exchange, he said, revealed a market dominated by vendors facing limited competitive pressure — and one ripe for disruption as AI agents enter the picture.

How NewCore’s platform works

NewCore’s platform manages both human and AI-agent identities in a single system, treating agents as first-class identities with their own permissions, lifecycle controls, and revocation mechanisms. A key architectural feature is its split-key design, which divides critical identity credentials between the customer and the platform to eliminate a single point of compromise.

The startup also offers an integration package for coding assistants such as Anthropic’s Claude Code, OpenAI’s Codex, and Cursor, allowing those AI tools to access enterprise systems as managed identities rather than through manually distributed credentials. Employees can use a mobile app to grant, review, and revoke access for AI agents, providing a human oversight layer as autonomous systems become more common.

Why this matters now

The timing reflects a broader shift in how companies view AI agents. Goldman Sachs tested AI coding agent Devin as a new employee last year, and McKinsey said earlier this year that 25,000 AI agents already work alongside its 60,000 employees. Alon predicts AI agents could outnumber human employees at many technology-focused organizations within a few years, a view recently echoed by TCS Chairman N. Chandrasekaran.

Established identity providers like Okta and Microsoft’s Entra have begun adding AI agent capabilities, but Alon argues those are extensions of platforms designed for humans. NewCore, he says, was built from the ground up for a workforce that includes humans, machines, and AI agents.

Market context and competitive landscape

The identity and access management market is large and mature, dominated by a few established players. NewCore’s pitch is that these incumbents are adding agentic features as add-ons rather than rethinking their architecture. The startup’s $300 million valuation at seed stage — a rarity even in the current funding environment — suggests investors see a significant opportunity.

NewCore has grown to more than 50 employees across the U.S. and Israel. Alon said the platform is being used by fewer than 10 customers and more than 10 design partners, with commercial pricing expected to begin this summer.

Conclusion

NewCore is entering a market that is both established and at an inflection point. Whether AI agents will truly require a new identity paradigm — or whether existing platforms can adapt — remains to be seen. But with major enterprises already deploying agents at scale, the question of how to govern them is no longer theoretical. As Alon put it, the question is whether companies will build the guardrails in time.

FAQs

Q1: What exactly does NewCore do?
NewCore provides an identity and access management platform designed specifically to handle both human employees and AI agents, treating them as first-class identities with their own permissions and lifecycle controls.

Q2: Why can’t existing identity platforms handle AI agents?
NewCore argues that platforms like Okta and Microsoft Entra were built for human users and static service accounts. AI agents operate autonomously, at high speed, and in large numbers — requiring different authentication, authorization, and revocation mechanisms.

Q3: How much funding did NewCore raise and who invested?
NewCore raised $66 million in seed funding led by Cyberstarts, with participation from Index Ventures and Evolution Equity Partners, at a $300 million post-money valuation.