Infisical raises $40 million at a $600 million valuation

Infisical, a San Francisco-based secrets management firm, has announced a $40 million Series B round, valuing the company at $600 million. The funding was led by returning investor Elad Gil, with Gradient and Y Combinator also backing the round. The new raise brings Infisical’s total funding to nearly $60 million. The company markets tools for managing secrets, encryption keys and digital certificates, alongside privileged access management across cloud, on‑premises and AI infrastructure.

Infisical highlights that more than 1,300 organisations use its products, including Airbus, Volkswagen, Hugging Face and Wise. A key feature is its Agent Vault, which allows AI agents to reach sensitive systems without ever possessing underlying credentials. The agent uses placeholders, with actual secrets injected at a proxy rather than the agent itself, and all agent requests are logged.

Vlad Matsiiako, Infisical’s co‑founder and CEO, said agents require access to company systems but exposing real passwords and API keys is a security risk. Infisical plans to deploy the funds to speed up product development, expand engineering and go‑to‑market teams, and further develop AI agent security capabilities.