Myrror Security seals $6m in seed funding to tackle software supply chain threats

Myrror Security, a trailblazer in the realm of DevSecOps, has announced a successful emergence from stealth with a substantial seed investment.

The company, which specialises in fortifying the software development life cycle (SDLC) with its innovative AI-backed solutions, has secured $6m in funding. This financial backing comes from esteemed investors such as Blumberg Capital and Entrée Capital.

The capital influx will be channelled towards expanding Myrror Security’s product capabilities and scaling its go-to-market strategies. This fresh investment is particularly significant as it comes at a time when open-source software (OSS) supply chain attacks have surged by a staggering 740% in 2022 alone. With OSS making up 70-90% of modern software, the threat landscape is increasingly daunting.

Myrror Security is dedicated to securing enterprise SDLC processes amid the escalating frequency of software supply chain attacks. These attacks exploit open-source dependencies and continuous integration and delivery (CI/CD) pipelines, which have become prevalent avenues for cyber breaches. Traditional security measures often fail to address these concerns adequately, as they focus on known vulnerabilities while overlooking the unknown ones. Moreover, they tend to overwhelm security teams with a barrage of alerts, many of which pertain to vulnerabilities not present in the final code.

The company’s strategy for the utilisation of the new funding is clear-cut. The investment will enable Myrror Security to broaden the reach of its cutting-edge binary-to-source analysis technology. This technology is pivotal to the firm’s offering, detecting real-time threats and significantly reducing the noise from false positives which plague existing solutions.

According to Yoad Fekete, co-founder and CEO at Myrror Security, the platform they’ve developed is of crucial importance to the current cyber-security landscape. “The integration of unverified open-source components into the software development process creates a massive attack risk on one hand, and a large amount of false positives for security teams on the other hand. Until now, there hasn’t been a solution on the market capable of tackling both of these problems effectively,” he explained.

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