Oligo Security, a leader in the field of ADR, announced today a significant boost in funding, having secured $50m in Series B financing.
The round was led by Greenfield Partners, with participation from Red Dot Capital Partners, Strait Capital, and existing investors such as Ballistic Ventures, Lightspeed Venture Partners, and TLV Partners.
This financial injection is earmarked for global go-to-market efforts, aiming to address the burgeoning demand for Oligo’s innovative platform. This platform excels in detecting exploitable vulnerabilities in real-time, thereby halting cloud-native attacks effectively. The recent funding elevates Oligo Security’s total capital raised to $80m in under two years.
Oligo Security specializes in mitigating the ever-growing threats in cloud-native software. With over a hundred new vulnerabilities reported daily, the company’s mission is increasingly critical. Their approach focuses on the transformation of how security operations pinpoint real application risks and counteract application-based attacks.
The company intends to use the new capital to expand its reach and enhance its technological capabilities. By offering deep application inspection at runtime, Oligo provides unparalleled real-time visibility into the internal workings of applications. This capability allows security teams to accurately identify and prioritize actionable vulnerabilities, ensuring robust protection against both known and unknown threats.
Additional information highlighted includes Oligo’s rapid growth and industry accolades. Having emerged from stealth in early 2023, the platform now supports extensive security measures across various sectors, including financial services and healthcare. Oligo has also garnered prestigious awards, reinforcing its impact and innovation in the application security landscape.
“Existing application security and runtime approaches are simply not suitable for this new era of modern software, and therefore don’t deliver the step-function needed to truly reduce risk and stop attacks on cloud applications,” Oligo Security co-founder and CEO Nadav Czerninski explained. He emphasized the company’s commitment to delivering significant value and creating a new paradigm in application security.
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