#USA #New York #AI Development #Application Security #OX Security

OX Security's Funding Milestone: $60M to Address Critical Application Risks

As artificial intelligence (AI) continues to revolutionize the field of software development, OX Security has successfully raised $60 million in Series B funding to enhance its application security platform. This latest funding round, led by DTCP, includes participation from notable investors such as IBM Ventures, Microsoft, Swisscom Ventures, Evolution Equity Partners, and Team8. With this investment, OX Security aims to equip developers with the tools needed to focus on the critical 5% of application security risks that truly matter, shedding light on the vulnerabilities often concealed within AI-generated code.

A Growing Concern for Software Developers

The rapid pace of software development, fueled by AI-generated code, poses a unique set of challenges for security teams. Traditional application security tools typically bombard developers with a deluge of alerts about vulnerabilities, falling short of prioritizing these risks effectively. As Neatsun Ziv, CEO and Co-Founder of OX Security, points out, many risks introduced by AI-generated code remain hidden beneath seemingly harmless code structures. This can lead to critical vulnerabilities going unnoticed until it's too late.

In the past year, OX Security has not only tripled its customer base but also achieved $10 million in sales, positioning itself as a leader in the application security landscape. This robust growth highlights the increasing recognition of the need for advanced security solutions that can address the complexities of modern software development.

The Innovative Approach of OX Security

OX Security distinguishes itself through its pioneering methodology of agentic code review, integrating AI capabilities with critical thinking algorithms designed to emulate the reasoning of top security engineers. By continuously assessing risks across the spectrum of both AI-powered and human-generated code, OX Security is able to identify essential vulnerabilities that have real-world implications. Through its platform, organizations can employ evidence-based prioritization of risks throughout the software development lifecycle, directing their focus solely on high-impact threats.

“Every security tool can unearth endless vulnerabilities and generate a relentless stream of alerts,” shares Ziv. “What differentiates us is our commitment to identifying which specific vulnerabilities pose genuine threats. Our purpose is not merely to uncover issues but to ensure that our clients understand which ones require immediate attention to avoid breaches. This mindset fosters developer buy-in and enhances overall security.”

This strategic pivot underscores the importance of not just identifying security issues but also understanding their urgency and potential impact, addressing a significant gap left by conventional security tools.

Market Readiness for Change

According to Dean Shahar, Managing Director at DTCP, “OX Security is the precision tool that penetrates through the relentless noise of vulnerabilities, empowering enterprises to zero in on the critical 5%. Their capabilities offer a genuine paradigm shift, addressing the shortcomings of traditional security tools.” As AI technology pushes the boundaries of software creation, OX Security’s unified approach to application security presents a cohesive solution, enhancing accuracy while securing an increasingly expansive attack surface.

The newly acquired funds, which elevate OX Security’s total investment to $94 million, will propel the company's efforts in product innovation and global expansion. By progressing from a reactive security stance to one grounded in measurable risk reduction, OX aims to significantly mitigate risks for businesses worldwide.

About OX Security

Founded in 2021 following the SolarWinds attack, OX Security is dedicated to refining the application security process. Their cutting-edge platform streamlines risk prioritization from design to runtime, supporting organizations in effectively addressing critical vulnerabilities before they become significant threats. With an impressive roster of over 200 clients, including industry giants like Microsoft and IBM, the demand for OX Security’s innovative solutions is evident in an era vastly impacted by AI.

In conclusion, as software development accelerates due to AI, there is a compelling need for sophisticated security solutions that can keep pace with this evolution. OX Security stands out for its proactive approach to application security, offering organizations the necessary tools to safeguard their software and mitigate risks efficiently.