Infisical raises $40m Series B to secure credentials used by AI agents

Infisical raises $40m Series B to secure credentials used by AI agents

27 October 2026: Infisical, an open-source company that manages secrets, certificates and privileged access, says it has raised a $40 million Series B at a $600 million valuation. Elad Gil, who also backed its Series A, led the round, and Y Combinator and Gradient Ventures invested again. The company says the money will speed up product development, grow engineering and go-to-market teams, and build security infrastructure for AI agents.

Not yet independently verified. This rests on Infisical's own release and blog post. The customer count, developer count, valuation and profitability are as the company states them, and we have not seen audited figures. The release and the blog name slightly different customer lists and investor lists; we use what each states and have not seen the cap table. We will update this when it can be confirmed, and remove this note.

The announcement was issued from San Francisco. Vlad Matsiiako, co-founder and chief executive, is the named spokesperson.

The problem it points to

Infisical's case rests on a simple chain. Coding agents, its blog says, have raised the amount of code being produced by more than ten times. More code means a larger attack surface, and attackers often move deeper into systems by using credentials such as API keys, passwords and private keys. At the same time AI agents are being given access to sensitive systems and taking actions that once needed a human's approval, often with little oversight.

"You wouldn't give an employee unrestricted access to every system in your company," Matsiiako says in the release, before making the same argument for agents. Gil's line is that AI agents are becoming a new class of users inside every enterprise.

What Agent Vault does

Agent Vault is the product the company wants to push hardest. According to the release, it lets an agent reach company systems without being handed the underlying credentials. The company sets the access each agent gets, and the agent cannot leak credentials during an attack or pass them to LLM providers or other tools it talks to.

Infisical also says it will keep widening its core products, secrets management, certificate management and privileged access management, to help organisations move off legacy tools.

The figures Infisical gives

The company says it has more than 1,300 customers and 300,000 developers, secures 10 billion secrets a day and has passed 30,000 GitHub stars on its open-source project. The release names Airbus, Volkswagen, Hugging Face, OpenRouter, Lucid, First American Financial, Wise and Clay as customers. The blog post says it has long been cash-flow positive, holds more cash than it has ever raised, and is hiring for more than 100 roles across engineering, sales, marketing, product and design.

Teams choosing a tool can compare the 15 products in our password management software category, several of which also store application secrets. The questions worth asking any vendor in this area are how an agent's access is scoped and logged, and whether credentials ever reach the model's context at all.

Company profile on TrustList: Infisical

Sources

• Infisical (via PR Newswire): Infisical raises $40 million at $600 million valuation to secure the AI agent economy, 27 October 2026
• Infisical: Infisical raises $40M Series B led by Elad Gil, 27 October 2026