NewCore emerged from stealth with $66 million in funding to build identity infrastructure for humans, machines, and AI agents, entering a market that the largest security vendors are piling into at the same moment.

The financing is a seed round led by Cyberstarts, with Index Ventures and Evolution Equity Partners, and values the company at roughly $300 million. That is an unusually large seed for a company without a public product, and it reflects how quickly investors have decided agent identity is a category rather than a feature.

NewCore is building around discovery, governance, and security for what it calls agentic workforces, the growing population of AI agents that act inside enterprise systems. Its argument is that AI agents are becoming employees: each one should be identified, assigned an accountable owner, granted scoped access, monitored while it works, and revoked when a task or role ends. The platform treats an agent as a distinct identity with its own lifecycle, trust score, and revocation process, rather than a traditional service account whose permissions are hard to trace.

That premise is now widely shared. A separate group of identity vendors moved this week to govern agents as enterprise identities, and the sector’s largest platforms announced agent-identity products and acquisitions within the same few days. NewCore’s bet is that the problem is large and distinct enough to support a company built around it from the start, rather than a capability bolted onto an existing identity suite. It sets up the contest now taking shape: incumbents such as CrowdStrike, SailPoint, and 1Password adding agent identity to platforms enterprises already run, against well-funded newcomers arguing that agents need infrastructure of their own.

What both sides agree on is the underlying need. As agents take on more autonomous work, the standards bodies and the commercial market have converged on the same conclusion: an agent has to be an identifiable actor with credentials, scoped permissions, and a record of what it did, or it cannot safely be allowed to act at all.

Sources: TechCrunch, NewCore

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By the Control Plane Editorial Team