Obsidian Security

Obsidian Security provides a SaaS security posture management (SSPM) platform that monitors identity behavior, configuration drift, and third-party app risk across an organization’s SaaS estate (Salesforce, Workday, Microsoft 365, Okta, and similar). The core thesis is that as enterprises shift critical workflows into SaaS applications outside traditional network perimeters, most breaches in that layer trace back to compromised identities, over-permissioned integrations, and misconfigurations rather than classic network intrusion, and existing SIEM/CASB tooling wasn’t built with SaaS-native telemetry in mind.

Founded in 2017 and headquartered in Newport Beach, California, Obsidian has raised roughly $204 million across four rounds, including a $90 million Series C in 2022 led by Menlo Ventures, Norwest Venture Partners, and IVP, and an $85 million Series D that valued the company at approximately $1.1 billion. In 2023 the company extended its platform to unify SaaS security posture monitoring with continuous compliance-monitoring capabilities, aimed at giving security and compliance teams a shared view of SaaS risk.

Obsidian competes in a increasingly crowded SSPM/ITDR field against both dedicated SSPM vendors and SaaS-security modules bundled into larger identity and CASB platforms, but its unicorn-level valuation and sustained, multi-round venture backing from top-tier investors are independently verifiable signals of investor confidence and market traction relative to smaller category entrants.