NewCore Raises $66 Million to Rebuild Employee Identity for the AI Era

As AI agents start connecting to enterprise systems just like human employees, identity security has become a non-negotiable requirement. On June 15, NewCore, headquartered in Tel Aviv, Israel and San Francisco, officially exited stealth mode, announcing $66 million in funding and unveiling its "security-first" identity platform—redesigned from the ground up to unify the digital identities of human employees, machines, and AI agents. The round was co-led by Cyberstarts, Index Ventures, and Evolution Equity Partners, giving the company a valuation of $300 million.

NewCore argues that traditional identity management solutions—such as those from Microsoft and Okta—were built for a purely human workforce and cannot handle the autonomous operations, dynamic permissions, and continuous auditing required by AI agents. Its new platform issues each agent a unique identity, defines the resources it can access, and logs all behavioral activity end-to-end, enabling unified governance of people, machines, and AI within a single framework. NewCore has made it clear that it will compete directly with Microsoft and Okta, aiming to "rebuild workforce identity from the ground up."

The founding team consists of veterans in cybersecurity and enterprise IT, with prior successes including Check Point's acquisition of Dome9. As enterprises accelerate the deployment of AI agents to perform tasks, the identity and access management (IAM) market is undergoing a structural shift. Analysts believe NewCore has seized the "agent as the new employee" trend window, but whether it can disrupt the entrenched ecosystems of giants like Microsoft and Okta remains to be seen through its enterprise adoption. Going forward, agent identity management could become one of the core foundations of enterprise security frameworks.