Today, we’re excited to announce our investment in Eos, and AppViewX’s acquisition of Eos. To think this has all happened in just the last nine or so months is staggering. However, the story started with deep conviction in a market and some serendipity.
When we met Archit Lohokare and Kash Ivaturi in the summer of 2025, it felt meant to be. For months, we had been thinking about the area of agent identity and access, so much so that we were considering incubating a business in this space.
In our view, the majority of the AI security startups at that point were focused on the obvious, low-hanging fruit issues of using ChatGPT and Claude. These included making sure sensitive data did not end up being fed into an LLM, or having a customer-facing chatbot go off the rails and make a bad business decision. These problems seemed like just the beginning – a wave of enterprise-grade problems was still to come. Chief among them were the issues of governance, access, and privilege. What does an AI agent access, and when? How should companies treat agents within their identity and governance frameworks? Who has permission to use what agents, and in what contexts? All of these problems were not getting enough attention, even though they represent the critical questions underpinning identity in the age of AI, a massive market that is up for the taking.
With this idea, and these open questions, we met Archit and Kash as they were beginning to form what would become Eos. The connection and alignment was instantaneous. Archit and Kash, having been leaders of identity and access management and governance products at CyberArk and Idaptive, had seen firsthand the disruption heading this market’s way because of agentic systems. Agents change the way we need to architect identity and governance programs within the enterprise. The traditional incumbents are not prepared for that disruption. This was the opportunity that led to Eos, and in the summer of 2025, we seeded the business and they were off to the races.
Today does not mark the end of that story, but a very exciting step change and acceleration of it. We are excited that Eos is being acquired by AppViewX, a leader in the Machine Identity Security, Certificate Lifecycle Management (CLM), PKI and Post-Quantum Cryptography (PQC) space. Archit and Kash will assume the CEO and CTO roles at the new combined company, and AppViewX will integrate Eos into its product offering, repositioning around a next generation AI Agent and Machine Identity Security platform.
We could not be more excited about this milestone. AppViewX provides Archit and Kash the platform and distribution resources to go after the Eos vision, but to do so bigger and faster than they could have otherwise. AppViewX’s Machine Identity Security and CLM products should be a natural component of the Eos offering, and make the technology even stronger. In AppViewX, we saw a partner that could help get Eos to market faster, and with more impact, in a space that is getting hotter by the second.
We could not be happier for Archit and Kash, two unbelievably seasoned professionals and operators in the identity security space. There are no better builders in this market than them, and the combined Eos-AppViewX entity will be a force to be reckoned with in this next wave of Identity Security companies built for the AI and Post-Quantum era. We’re excited to be along for the ride.
A special thanks goes to Doug Steinberg, an Operator-in-Residence with us who spearheaded much of the research and diligence that led to our interest and conviction in this market. Without his hard work, the Eos story would have been very different, and it almost definitely would not have included us at Primary.
Congratulations to Archit, Kash, and team Eos!