Ibex leads portfolio company,Offroad, announces seed round

Why We Invested in Offroad: The Agentic Identity Team for The Next Generation of Enterprise Security

By Adi Dangot Zokovsky

We're thrilled to be leading Offroad’s seed round and partnering with Dan and Philip as they build the agentic identity security team for the next generation of enterprise security. As identity becomes the primary attack surface in modern enterprises, Offroad enables organizations to move beyond detecting identity risk to continuously remediate it in real time.
Offroad does this by collecting the missing operational context across identity systems, SaaS applications, cloud environments, logs, tickets, and business owners, then using that context to understand and remediate identity risk in real time.

The Existing Identity Stack Is Breaking

Identity security has changed over the past decade. Enterprises are no longer managing only employees and contractors; they now operate in dynamic, machine-driven environments where permissions change constantly and identities interact autonomously across cloud and SaaS ecosystems.

Over the past few years, organizations have adopted identity posture management, governance, and runtime identity security tools to improve visibility into excessive permissions, dormant accounts, risky access paths, and account takeover attempts. But visibility alone doesn’t solve the problem. Security teams are still left to manually gather context, identify ownership, and coordinate remediation across fragmented systems and workflows.

At the same time, AI agents can now identify and exploit identity vulnerabilities faster than human attackers ever could. Excessive permissions, stale credentials, orphaned accounts, unmanaged OAuth applications, and non-human identities have become significantly more dangerous in an AI-native environment. As enterprises increasingly rely on service accounts, APIs, workloads, and AI agents, identity has become the primary attack surface, while traditional IAM architectures struggle to keep up with fragmented identity data and growing operational complexity.

Building the Agentic Identity Security Team for Modern Enterprises

Offroad is building an AI identity security team for the modern enterprise, helping organizations solve some of the most painful operational identity problems security teams face today, problems that are still handled largely manually.

For example, Offroad may identify an AWS role used by a production workload with broader access than it needs. Offroad collects the context required to understand the real risk: what workload uses the role, what data it can access, which permissions are actually used, who owns it, what business process depends on it, and how to reduce access without breaking production.

In another case, Offroad may investigate a risky action by an AI agent after one OAuth approval gives it persistent access to tools like Google Drive, Slack, Salesforce, or other business applications. Offroad can determine which token was used, what permissions it has, which systems and data were touched, who owns the identity, and what may break if access changes. Based on that context, Offroad can determine whether the activity is expected automation, misconfiguration, credential misuse, or agent abuse through a compromised workflow.

Most identity security tools can surface risk, but they lack the operational context required to resolve it. Offroad closes that gap by collecting context across an organization’s existing identity stack - permissions, activity, ownership, tickets, business workflows, SaaS applications, cloud environments, and internal systems - and turning it into action. This allows Offroad to understand not just what access exists or what activity occurred, but why it exists, whether it is justified, and how to remediate it safely across human, non-human, and AI identities.

Why We’re Excited

What makes Offroad especially compelling to us is that they're not building another visibility tool - they're building the operational layer that continuously resolves identity risk across human and non-human identities. You can effectively think of Offroad as an autonomous identity security team that closes the loop end-to-end.

At Ibex, when we evaluate investment opportunities, we place strong emphasis on how AI is being applied not just as a tailwind for adoption driven by heightened awareness of the problem, but whether the solution itself leverages AI to introduce a new paradigm of efficiency, displacing the tedious manual workflows that define the existing market.

We believe this timing matters enormously. Enterprise identity environments are becoming increasingly machine-driven and autonomous, while remediation workflows are still handled manually through reviews, tickets, and cross-team coordination. That model no longer scales in a world where AI agents can exploit vulnerabilities faster than humans can respond.

Identity security is evolving from standalone detection and posture tools toward agentic platforms that continuously investigate and remediate identity risk in real time. As machine identities and AI agents become the operational layer of enterprises, identity security will increasingly require continuous visibility, runtime intelligence, and autonomous remediation rather than periodic human-driven reviews.

Offroad’s founding team, Dan Bendler (CEO) and Philip Shteyn (CTO), combine deep experience across enterprise cybersecurity, AI systems, and large-scale operational security, and we are excited to partner with them and the entire amazing team at Offroad as they build the agentic identity security platform for the AI era.