Israeli startup Oligo Security has announced that it has exited stealth and completed raising $28 million. The Seed and Series A financing rounds over the past nine months were with the participation of Lightspeed Venture Partners, Ballistic Ventures, TLV Partners, and private investors Shlomo Kramer, Eyal Waldman, Adi Sharabani, and Eyal Manor.
The company has developed a runtime application security and observability solution that allows enterprises to detect and prevent open source code vulnerabilities in their applications without affecting performance. Oligo Security was founded by CEO Nadav Czerninski, CTO Gal Elbaz (previously with Check Point) and CPO Avshalom Hilu, all former officers in the Israel Defense Force’s elite cybersecurity units,.
Oligo applies its expertise in application security to bring precision and accuracy to AppSec. The company’s solution has already been adopted by leading companies in computer technology, analytics software, global commercial real estate and investment services, as well as online financial services.
Czerninski said, “After Oligo’s co-founder, Gal Elbaz, discovered that a widely used app like Instagram could be easily compromised by misusing an open source library, we realized that there is a significant gap in the way the market currently addresses open source security. We zeroed in on a protection method that inspects each library in runtime or staging, allowing us to precisely identify attacks in cases of deviations and to fix the vulnerabilities that matter.”
Published by Globes, Israel business news – en.globes.co.il – on February 16, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
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