NewCore, a cybersecurity startup, revealed $66 million in funding on June 15, 2026, and launched a platform for managing AI agent identities in enterprise environments. The company is valued at $300 million post-investment and is betting that existing identity and access management (IAM) systems — designed with human employees in mind — are structurally unprepared for organizations where AI agents match or outnumber humans.
Key takeaways
- $66M seed round led by Cyberstarts, with Index Ventures and Evolution Equity Partners participating
- Post-investment valuation: $300M
- Platform manages human and AI agent identities in a unified system
- "Split-key" architecture divides credentials between the customer and the platform, removing a single point of compromise
- McKinsey reports 25,000 AI agents already working alongside its 60,000 human employees
Identity as the Weakest Link
Co-founder and CEO Zohar Alon previously built Dome9, a cloud security startup acquired by Check Point. The idea for NewCore came from observing that the IAM market is large, dominated by a handful of established vendors, and — in his assessment — stagnant.
Alon argues that 15- to 20-year-old IAM platforms were never designed for non-human actors. AI agents require separate credential life cycles, their own access revocation mechanisms, and different permission logic than a human employee. Current market leaders — Okta and Microsoft Entra — are adding agent support as extensions to existing platforms, which Alon views as structurally flawed.
The traditional vendors give you an agentic way to deal with identity, but it's on the side — it's not integrated.
— Zohar Alon, CEO of NewCore, speaking to TechCrunch
What the NewCore Platform Does
NewCore's platform allows organizations to treat AI agents as first-class identities — with their own permissions, activity history, and the ability to revoke access instantly. The company highlights several technical elements of its approach.
The first is a split-key architecture: critical credentials are divided between the customer's infrastructure and the NewCore platform. There is no single point that, if compromised, would yield full access to an agent's credentials.
The second is integration with AI coding tools. NewCore offers an "Agentic Skill" package for assistants including Claude Code from Anthropic, Codex from OpenAI, and Cursor. Agents can access enterprise systems through NewCore-managed identities rather than manually distributed API keys or service tokens.
The third element is a mobile app for employees that lets them grant, review, and revoke AI agent permissions in real time. Alon describes this as a "human oversight layer" as organizations deploy increasingly autonomous systems.
The Scale of the Problem
The market data cited by NewCore provides context for a valuation that appears aggressive at the seed stage. Goldman Sachs tested AI coding agent Devin as a new employee in 2025. McKinsey reports that 25,000 AI agents already work alongside its 60,000 human employees — and that ratio is expected to grow.
TCS chairman N. Chandrasekaran recently stated that AI agents could eventually rival the entire workforce of the Indian IT services giant in size — a company that employs roughly 600,000 people.
NewCore has grown to more than 50 employees in the US and Israel. Alon said the platform serves fewer than 10 paying customers and more than 10 design partners. Commercial billing is set to begin this summer.
The Competitive Landscape
The AI agent identity space is drawing attention from multiple directions. Beyond Okta and Microsoft Entra, which are developing agentic IAM features, specialized startups are emerging. Investment in the "non-human identity" segment has accelerated visibly in 2026, with several companies raising rounds between $30M and $100M.
NewCore's argument for differentiation is architectural: a platform built from scratch for multi-actor environments (humans, machines, and AI agents), rather than an existing IAM system retrofitted with agent support.
Why This Matters
The problem NewCore is addressing is a direct consequence of the pace at which agentic AI is being deployed inside organizations. When agents begin executing tasks previously reserved for human employees — writing code, handling support tickets, managing data — they become subjects requiring audit trails, oversight mechanisms, and the ability to be shut down immediately. Existing IAM tools have handled service accounts and API keys for years, but an AI agent's life cycle is different: it can be invoked by another agent, operate across multiple systems simultaneously, and hold permissions that shift dynamically.
A $300M seed valuation signals that investors view this problem as urgent and large enough to justify aggressive early funding. McKinsey appearing simultaneously as a customer and a source of market data is unusual for a startup's debut press release. If TCS chairman Chandrasekaran's forecast holds and organizations deploy hundreds of thousands of AI agents over the next three to five years, they will need an identity management layer that does not yet exist at scale.
What's Next
- Commercial launch of the NewCore platform is planned for summer 2026, per CEO Alon's statement to TechCrunch.
- The company plans to expand the "Agentic Skill" integration package beyond the current three tools (Claude Code, Codex, Cursor).
- Large-scale deployments of AI agents at Fortune 500 companies will be the real test of whether a platform designed for fewer than 10 customers can scale to environments running hundreds of thousands of agents.
