Oligo Security, a leader in Application Detection and Response (ADR), announced $50 million in Series B funding led by Greenfield Partners, with participation from Red Dot Capital Partners, Strait Capital, and existing investors Ballistic Ventures, Lightspeed Venture Partners, and TLV Partners.
The funding will fuel global go-to-market efforts to meet the increasing demand for the Oligo platform, which finds exploitable application vulnerabilities in real time and stops cloud-native attacks. The round brings Oligo to $80 million in total funding in less than two years.
The growth in vulnerabilities in cloud-native software created a near-impossible challenge for security organizations tasked with finding, fixing, and defending against software vulnerabilities. Over 100 new vulnerabilities are reported each day1, contributing to insurmountable patch backlogs.
Attackers have been taking advantage of this as vulnerability exploits nearly tripled last year and the average time-to-exploit (TTE) a vulnerability is now five days, which is down from 32 days just a few years ago3. AI-assisted code generation is supercharging this issue, producing a variety of vulnerabilities4. To combat this, security organizations must transform the way they identify real application risks and stop application-based attacks.
Oligo offers deep application inspection at runtime, enabling real-time visibility into library and function-level activity. And with this capability, security teams can accurately pinpoint where code vulnerabilities exist and if they are in use, offering a clear picture of true application risk. The Oligo platform also continuously monitors application components to detect anomalies and stop malicious behavior in modern applications before they lead to breaches.
So, security and development teams can focus exclusively on the vulnerabilities that pose real risk and achieve the assurance that they are protected against unpatched or unknown attack vectors. And the platform delivers rapid time-to-value through easy deployment, uses less than 1% of CPU resources, and can scale to thousands of nodes.
The company was co-founded by Nadav Czerninski (CEO), Gal Elbaz (CTO), and Avshalom Hilu (CPO). And Oligo has experienced unprecedented momentum since coming out of stealth in early 2023. Its platform currently powers the security programs of Fortune 500 customers and serves scores of organizations across financial services, healthcare, big tech, and more.
KEY QUOTES:
“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. 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.”
- Nadav Czerninski, co-founder and CEO, Oligo Security
“Oligo is positioned to disrupt multiple areas of application security, from vulnerability management and workload protection to threat detection and response. For years, security and development teams had been fighting an uphill battle in figuring out which vulnerabilities to prioritize in their environments. With Oligo, the guesswork is completely removed, and organizations can finally focus on the ones that are tied to tangible risk, while protecting themselves against those that do not have a CVE, like zero-day and shadow vulnerabilities. The team, technology and opportunity are all equally as impressive, which is why we could not be more excited to join the Oligo journey during this next stage of growth.”
- Avery Schwartz, General Partner, Greenfield Partners
