Israeli Startup Oligo Security Raises $50M Series B for API Security Platform

In a powerful move that cements its dominance in Application Detection and Response (ADR), Oligo Security, an Israeli cybersecurity startup, has secured a monumental $50 million in Series B funding. Spearheaded by Greenfield Partners, with strong backing from Red Dot Capital Partners, Strait Capital, and returning investors Ballistic Ventures, Lightspeed Venture Partners, and TLV Partners, this latest round catapults Oligo’s total funding to an impressive $80 million in under two years.

This massive investment will supercharge Oligo’s global expansion, fueling its go-to-market strategy to meet skyrocketing demand for its cutting-edge platform. Renowned for its ability to detect and neutralize exploitable application vulnerabilities in real time, Oligo is leading the charge in defending against relentless cloud-native attacks. As cyber threats evolve, Oligo’s latest funding round underscores its mission to redefine application security on a global scale.

Founded in 2022 by former officers who served in the Israel Defense Force’s elite cybersecurity units, CEO Nadav Czerninski, CTO Gal Elbaz and CPO Avshalom Hilu, Oligo Security boasts that the firm offers the “most precise” open source security solution, leveraging runtime application context while maintaining performance and stability. Using Oligo, it says, customers are able to save time and focus on the relevant vulnerabilities that are being used in runtime, thus reducing the workload of responding to security alerts by about 85%.

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Oligo’s solution has already been adopted by leading companies in computer technology, analytics software, global commercial real estate and investment services, as well as online financial services.

Oligo explains open source code comprises 80 to 90 percent of modern software, providing an attractive attack vector for nation-states and cybercriminals. While awareness of the need for open-source code security is rising, existing software composition analysis (SCA) solutions fall short leaving organizations exposed. They are noisy, producing large volumes of false positives and do not provide runtime application context for prioritization.

“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,” said Nadav Czerninski, co-founder and CEO, Oligo Security. “We built Oligo to see deeper into any application than ever before, verifiably identify the vulnerabilities that matter most, and stop any exploitation attempt in its tracks. We’ve been honored to deliver value to the world’s largest organizations with the Oligo platform, and we’re excited to bring this value to even more customers – and with them, create a new paradigm for application security.”