Infisical Raises $40 Million Series B at $600 Million Valuation

Gunderson Dettmer represented Infisical in its $40 million Series B financing at a $600 million valuation. The round was led by Elad Gil, who previously invested in the company's Series A, with Gradient and Y Combinator among its other investors.

Infisical is a security infrastructure platform that helps organizations securely manage secrets, certificates, encryption keys and privileged access for developers, machines and AI agents. Its Agent Vault lets AI agents access sensitive systems without exposing the underlying credentials. The company will use the new funding to accelerate product development, expand its engineering and go-to-market teams, and build out its security infrastructure for AI agents as enterprise adoption increases.

"You wouldn't give an employee unrestricted access to every system in your company, and AI agents shouldn't be any different," said Vlad Matsiiako, co-founder and CEO of Infisical, in the announcement of the transaction. "Agents need access to company systems to do their jobs, but giving them actual passwords and API keys is a major security risk. We let agents get their job done safely without ever having those credentials in their hands." 

The Gunderson deal team was led by Bennett Yee and included Adam Spaulding, Garrett Darling, and Sierra Singer.