Frederic Lardinois of techcrunch confirms that Oligo raises $28M in series A funding to secure open-source libraries. This is such a big news for the this startup and now offer more solutions for cloud services!!
Oligo series A funding of 28m will be game changer!
Oligo Security, a startup based in Tel Aviv that focuses on runtime application security and observability to detect and prevent open-source vulnerabilities, is coming out of stealth today and announcing that it has raised a total of $28 million in seed and Series A funding. The company was previously in stealth mode.
Angel investors such as Eyal Waldman, CEO and Founder of Mallanox technologies, Adi Sharabani, CTO of Cnyk, and Eyal Manor, former Vice President of Google Cloud, are among the business’s investors. Other investors in the company include Lightspeed Venture Partners, Ballistic Ventures, and TLV Partners. Additionally, participants included Cyber Club London (CCL), Kmehin Ventures, and OperAngels. Additionally, in 2022, the company was a participant in the Ignite accelerator hosted by Intel.
Oligo’s technology is based on eBPF, which is a technology that is becoming increasingly common to run sandboxed code in the Linux kernel. This allows users to obtain access to very detailed monitoring capabilities without incurring any large expense. Oligo’s technology was developed by Oligo. This is a unique strategy in comparison to other security firms, who centre their attention on open-source libraries. Oligo’s primary focus is not on notifying security teams of every possible vulnerability — even if a library isn’t actually used in an application — but rather on monitoring applications while they are being run, both in pre-production and production environments. This is done to ensure that vulnerabilities are patched as soon as possible. In an ideal world, this will reduce the number of notifications that aren’t necessary. In point of fact, Oligo contends that 85 percent of the open-source vulnerabilities that conventional scanners bring to the attention of developers are never even used in production.
Oligo works across clouds and supports all of the major modern programming languages, such as Python, Go, Java, and Node. It was co-founded by Nadav Czerninski, who serves as CEO, Gal Elbaz, who serves as CTO, and Avshalom Hilu, who serves as CPO.
“We have our own technology, which is based on eBPF, and we are working on getting a patent for it. It enables us to monitor the runtime environment in a secure and fast manner, allowing us to first determine whether vulnerabilities are genuinely relevant to the environment. Developers, security teams, and DevOps teams can all make significant time and financial savings as a result of this, as Czerninski noted.
Oligo is able to determine when something has changed, most likely as a result of an exploit, because the team first observes how each library ought to function in regular usage across many scenarios. If a library like NumPy, which is generally just used for computations, all of a sudden needs to access the network, there is obviously something wrong.
According to Alex Nayshtut, Head of Security at Intel Strategy Office, “Solving the open source security dilemma starts with the capacity to accurately analyse the actual risk of code vulnerabilities.” “By contextually prioritising vulnerabilities in accordance with actual danger as opposed to perceived risk, Oligo is poised to boost the efficiency of application security teams while simultaneously lowering the risk associated with employing open source,”