Oligo Security Secures $50 Million To Enhance Application Defense

(MENAFN- The Arabian Post) Arabian Post -

Oligo Security, a prominent provider of Application Detection and Response solutions, has successfully raised $50 million in a Series B funding round led by Greenfield Partners. The round also saw participation from Red DOT Capital Partners, Strait Capital, and existing investors Ballistic Ventures. This substantial investment underscores the growing emphasis on advanced cybersecurity measures in today's digital landscape.

Founded by CEO Nadav Czerninski, CTO Gal Elbaz, and CPO Avshalom Hilu, all former officers in Israel's elite cyber units, Oligo Security has rapidly emerged as a leader in runtime application security and observability. The company's innovative approach focuses on detecting and preventing vulnerabilities in open-source code without compromising application performance. By leveraging dynamic library-level analysis and behavior monitoring, Oligo identifies vulnerabilities in active packages and prioritizes fixes based on application context, thereby enhancing efficiency for development and security teams.

The latest funding round brings Oligo's total capital raised to $78 million, following a $28 million investment in early 2023. This financial momentum reflects investor confidence in Oligo's mission to provide precise and effective application security solutions. The company plans to utilize the new funds to expand its product offerings, accelerate research and development, and broaden its global market presence.

Oligo's technology is built on patented eBPF innovations, enabling unprecedented observability into application behavior at the library and function level with minimal overhead. This approach allows organizations to focus on vulnerabilities that pose real risks, reducing the workload of responding to security alerts by approximately 85%. By profiling the legitimate behavior of each library, Oligo can alert or block any activity that deviates from the expected behavior, providing a proactive defense against potential threats.

The company's solutions have already been adopted by leading firms across various industries, including computer technology, analytics software, global commercial real estate, and online financial services. Security leaders have praised Oligo's approach for its precision and effectiveness. Alex Nayshtut, Head of Security at Intel Strategy Office, stated,“Oligo is set to increase the productivity of AppSec teams and reduce the risk of using open source by contextually prioritizing vulnerabilities according to actual versus perceived risk.”

In recognition of its innovative contributions to cybersecurity, Oligo Security was named to the“Rising in Cyber 2024” list by Notable Capital. This accolade highlights the company's proven ability to solve critical problems for security teams and its potential for significant impact in the cybersecurity sector.

The Series B funding round was led by Greenfield Partners, a growth equity firm known for investing in technology companies with transformative potential. Red Dot Capital Partners and Strait Capital also participated, bringing their expertise in scaling technology businesses. Existing investor Ballistic Ventures, which focuses exclusively on early-stage cybersecurity companies, reaffirmed its support for Oligo's vision and strategy.

Oligo's focus on runtime application security addresses a critical need in the cybersecurity landscape. With open-source code comprising a significant portion of modern software, ensuring its security is paramount. Traditional software composition analysis tools often produce numerous false positives and lack the context needed for effective prioritization. Oligo's solution overcomes these challenges by providing real-time insights into application behavior, allowing for immediate detection and response to potential threats.

MENAFN01022025000152002308ID1109155589