Oligo Security, an application security and observability platform, has raised $28m after coming out of a stealth period.
The app security and observability solution enables enterprises to detect and prevent open source code vulnerabilities in their applications without affecting performance.
The funding was raised across seed and Series A funding rounds, with participants including Lightspeed Venture Partners, Ballistic Ventures, TLV Partners and a number of key angel investors, including former Google Cloud GM/VP Eyal Manor and Snyk CTO Adi Sharabani.
Oligo’s library-level analysis and behavior monitoring technology instantly identifies vulnerabilities in running packages and prioritizes fixes based on application context, saving expensive development time by focusing on the actual attack surface.
The solution also alerts only when there is a deviation from a library’s permission policy, indicating suspicious activity. Oligo claims its solution is fast and efficient by design, using a proprietary eBPF-based engine to precisely detect vulnerabilities and prevent attacks while maintaining application stability.
Oligo’s technology profiles the legitimate behaviour of each library, creating a knowledge base of libraries’ profiles and alerting or blocking whenever a library activity is not as expected. Working at the library level, the Oligo platform enables quick and effective performance while maintaining high stability of the application.
Oligo Security CEO and co-founder Nadav 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.”
Skybox Security, a SaaS-based security posture management platform, has recently raised $50m in funding.
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