Today marks a significant milestone for Oligo, as we officially launch our solution for runtime application security and observability. I am proud to announce that we have secured $28 million in funding from top-tier VCs: Ballistic Ventures, Lightspeed Venture Partners, & TLV Partners; from leading security syndicates: Cyber Club London (CCL), Kmehin Ventures & OperAngels; and angel investors who are industry experts in cybersecurity.
My co-founders, Gal Elbaz and Avshalom Hilu, and I have been best friends for as long as we can remember, and we have always been passionate about secure and efficient development. After years of experience in the cybersecurity field, both as defenders and white-hat hackers, we identified a critical issue with the current approach to application security. This was further highlighted when Gal discovered how even one of the largest applications in the world, Instagram, could easily be hacked by exploiting a single vulnerability in a single open-source software it utilized.
Despite the extensive use of open-source software today and the attention organizations give to addressing its vulnerabilities, businesses remain vulnerable to attacks such as Log4shell, OpenSSL, Spring4Shell, and many more. This realization prompted us to seek a paradigm shift in the way applications are being protected and led us to develop a solution that provides precise and accurate application security.
Oligo identifies vulnerabilities in running packages and prioritizes fixes based on the context of the running application, saving expensive development time by helping developers and security teams focus on the actual attack surface, which is only 15% of the vulnerabilities identified by existing tools. The solution also alerts only when there is a deviation from a library’s permission policy, indicating suspicious activity. The solution is based on revolutionary eBPF technology which allows running efficiently without compromising on performance or stability, making it a game-changer in the world of cybersecurity. You should definitely read more about it in our CPO product blog.
Oligo aims to streamline the usage of open source software by making it secure and easy to protect. We focus developers and security teams on the relevant vulnerabilities, which makes the fixing process significantly shorter. At the same time, our ability to precisely enforce the permissions of each library ensures secure usage of open source software.
I would like to extend my gratitude to our investors who joined Oligo’s journey, for their confidence in our team. The support of such an all-star team of investors is an honor and a testament to the uniqueness of our solution. Their support will enable us to continue to innovate and bring our technology to market. I also want to express my appreciation to our early adopters and customers who have embraced our solution. Your belief in our product drives us to continually improve and provide the best possible solution, and it is an honor to see how it delivers real value and helps teams on a daily basis.
Finally, I want to acknowledge and thank our dedicated team. They are not only experts in their field, but also passionate about delivering the most precise and effective solution for application security. Their hard work and commitment to our mission have made all the difference, and I am truly proud to lead such a talented group of individuals.
Join us as we embark on this exciting journey, Leading Application Security to runtime.
If you’d like to hear more, you can book a demo, or register for our webinar with application security experts.