NewCore lands $66M to manage AI agents as enterprise identities

NewCore emerges from stealth with $300M post-money valuation

Cybersecurity startup NewCore announced $66 million in seed funding led by Cyberstarts, with Index Ventures and Evolution Equity Partners also participating. The round valued the company at $300 million post-investment (per company statement).

Co-founder and CEO Zohar Alon, who previously founded cloud-security startup Dome9 before its acquisition by Check Point, launched NewCore alongside CTO Amihai Neiderman (former Unit 8200 research leader and Nym Health founder) and Chief Commercial Officer Erez Yarkoni (former CIO of T-Mobile USA and Telstra).

The startup has grown to more than 50 employees across the U.S. and Israel. It is currently being used by fewer than 10 customers and more than 10 design partners, with the company planning to begin charging customers this summer.

Identity platforms were not built for software workers

NewCore's premise rests on a single observation: as companies treat AI agents as workplace participants rather than software tools, existing identity platforms will strain under the load. McKinsey reported earlier this year that 25,000 AI agents already work alongside its 60,000 employees. Goldman Sachs tested AI coding agent Devin as a new employee. The shift is happening now, not in theory.

Alon argues that identity has become a large but stagnant market dominated by vendors facing limited competitive pressure. Okta and Microsoft's Entra have begun adding agent capabilities, but Alon contends they extend platforms designed for humans rather than building for mixed workforces from the start. "The traditional vendors give you an agentic way to deal with identity, but it's on the side, it's not integrated," he told TechCrunch.

NewCore's architecture treats AI agents as first-class identities with their own permissions, lifecycle controls, and revocation mechanisms rather than as service accounts or machine credentials. The platform uses what it calls a "split-key" architecture that divides critical identity credentials between the customer and the platform to eliminate a single point of compromise. It also offers an "Agentic Skill" integration for coding assistants such as Claude Code, Codex, and Cursor, allowing those tools to access enterprise systems as managed identities rather than through manually distributed credentials. A mobile app lets employees grant, review, and revoke access for AI agents, providing human oversight as systems become more autonomous.

The identity problem is coming faster than most expect

Alon predicts AI agents could outnumber human employees at technology-focused organizations within a few years, a view recently echoed by TCS Chairman N. Chandrasekaran, who said agents could eventually rival the Indian IT services company's workforce in size. Whether that forecast holds, the operational problem is already here: companies need ways to monitor, authorize, and revoke software workers operating across their networks.

Most enterprises today distribute credentials to AI agents manually or through service accounts designed for background processes, not autonomous decision-makers. As agent deployment scales, this approach breaks: audit trails blur, revocation becomes laborious, and permission creep accelerates. NewCore is betting that identity will be the first enterprise system strained by large-scale AI agent deployment, not networking, data governance, or compliance.

The startup's timing is tight. Less than a decade of identity-platform consolidation means most enterprises are locked into Okta, Microsoft Entra, or Ping Identity contracts. NewCore must convince security and infrastructure teams that the problem is urgent enough to justify a new vendor relationship before the incumbents ship credible solutions.