Pynt, a firm specialising in API security, has announced the general availability of its pioneering security autopilot tool for APIs and bagged $6m.
The company successfully secured $6m in its latest seed funding round. Leading the investments was Joule Ventures, and the round also saw significant contributions from Dallas VC and Honeystone VC.
APIs serve as essential conduits, allowing software components to interact seamlessly. These interfaces have become integral to modern-day applications, exemplified when a smartphone weather application accesses real-time meteorological data through the weather bureau’s API.
With over 83% of today’s internet traffic being API-related, security vulnerabilities within these systems are a growing concern, highlighted by recent breaches experienced by companies like X (formerly Twitter Inc.) and LinkedIn Corp.
Pynt intends to enhance its API security autopilot tool with this funding. This unique offering aims to simulate white-hat hackers, utilising human-like reasoning to pinpoint vulnerabilities, all before real-world hackers can exploit them. Moreover, Pynt’s solution seamlessly integrates with popular API development platforms, such as Postman, offering a holistic, automated security solution for developers.
Offered in both freemium and enterprise packages, Pynt already boasts a clientele that includes several Fortune 500 companies. Its platform not only identifies vulnerabilities but also produces in-depth reports, dashboards, and invaluable insights on remedial measures.
Pynt CEO Tzvika Shneider emphasised the crucial role of APIs in today’s business landscape, likening them to the primary entrances to their fortresses. “These doors should be both secure by design and well-guarded, with the door makers and the guards sharing the responsibility,” he detailed. Shneider also pointed out the prevalent disconnect between developers and security professionals, stating, “Both already have a lot on their plate, so we solve that problem by elegantly shifting left API security.”
Brian Rozenzweig, founding partner at Joule Ventures, commended Pynt’s proactive approach to API security, noting, “This Pynt team has an exceptional combination of experience, technical acumen, and vision and is poised to make a significant dent in the API Security market.”
Pynt’s seasoned founding team, which includes CTO Ori Goldberg, CSO Golan Yosef, and CPO Ofer Hakimi, has a rich history in both software and security, previously contributing to automotive applications at Harman International Inc.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
