Zygon has secured $3m in a successful seed funding round, as it looks to protect enterprises from the risks brought by the uncontrolled spread of Software-as-a-Service applications among their teams.
The Paris-based company secured the funds with backing from a consortium of investors led by Axeleo Capital and featuring participation from Kima Ventures, as well as several prominent cybersecurity angel investors.
The firm has exited stealth mode with the mission to address the security implications stemming from the rapid growth of SaaS applications in modern enterprises. The firm’s approach is aimed at bridging the gap between business teams and security teams, which has widened due to the extensive adoption of hundreds of SaaS applications.
Thomas Lejars, co-founder and CEO of Zygon, said, “Over the last decade, teams across companies have rushed to adopt hundreds of SaaS applications, pushing the relationship between business teams and security teams to an almost breaking point. We are proud to pioneer a solution that is opening a $10B+ market by rekindling the collaboration between teams on cybersecurity issues.”
With the $3m seed funding, Zygon aims to make its product accessible to a broader audience of enterprises struggling to keep pace with the expanding SaaS landscape.
In the past year, Zygon has developed a SaaS Security Posture Management solution designed to address the issue at hand. This enables security teams to discover, inventory, and automate security rules for all applications used by collaborators throughout their organisation. Key features of the solution include app discovery, app inventory building, application admin takeover, collaborator offboarding, authentication method upgrades, and more.
Throughout its beta testing period, the French firm has claimed to have received numerous positive remarks for its innovative solution, as it looks to redefine the SaaS market.
Kevin Smouts, co-founder and Chief Product Officer for Zygon, said, “Security and IT teams are exhausted. They spend weeks cataloging and vetting yet another new set of SaaS applications, only for them to be forgotten on a static spreadsheet somewhere on their Google Drive. We were overwhelmed by the positive feedback of users during the beta phase. With Zygon, they automated these repetitive tasks and moved directly to the next phase of guiding business users towards a more secure usage of the applications they love, at scale.”
Brice Lapouble, Investment Director at Axeleo Capital, said, “The security implications of the SaaS sprawl we see today in the modern enterprise are a challenge we are eager to see answers to. We have helped many founders pushing the boundaries of cybersecurity over the years. We are excited to now partner with Zygon’s talented and experienced management team.”
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