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Tuesday, November 29, 2022

Apps security startup Apiiro to fast-track business development with $100M

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Applications security startup, Apiiro, has announced a $100 million funding round. The company will use the money to fast-track its business development.

Israeli application security startup Apiiro LLC has announced a Series B funding round of $100 million  from a number of top-shelf Silicon Valley companies. General Catalyst led the round that had participation from Greylock and Kleiner Perkins.

Apiiro was established by ex-employees of Microsoft Corp. and its offices are in New York and Tel Aviv. The company secured funding of $35 million in 2020 from Kleiner Perkins and Greylock.

 Apiiro says the funding it has secured now will be used to fast-track its business development.

Co-founder and CEO of Apiiro, Idan Plotnik, said the company will use a part of the money on channel sales. Apiiro is mainly focused on the U.S. market. Apiiro provides tools to help developers handle security concerns before releasing code to the cloud. This should guarantee that insecure code is identified before hackers can exploit it. Apiiro’s Code Risk Platform increases security by allowing businesses to detect dangerous code and notify developers before it’s too late.

The program works by connecting to a company’s code management systems and establishing an inventory of software development assets. This allows Apiiro’s algorithms to detect insecure application components.

When developers make changes to an application, the Code Risk Platform examines those changes for vulnerabilities. It may detect susceptible interface features, insufficient encryption, or regulatory issues related to the European Union’s General Data Protection Regulation.

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