Oligo Security, an Israeli startup that specializes in protecting applications against cyberattacks, has raised $50 million in a Series B funding round. This brings Oligo to $80 million in total funding since its establishment in 2022.
The round was led by Greenfield Partners, with participation from Red Dot Capital Partners, Strait Capital, and existing investors Ballistic Ventures, Lightspeed Venture Partners, and TLV Partners.
Attacks on cloud-native software tripled last year, with security organizations scrambling to optimize the way they identify application risks and stop application-based attacks.
Oligo’s unique platform finds exploitable application vulnerabilities in real time and stops cloud-native attacks.
Oligo CEO Nadav Czerninski said, “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.”
Czerninski cofounded the startup with Gal Elbaz and Avshalom Hilu.
According to Oligo, the product “provides deep application inspection at runtime, enabling real-time visibility into the programming library and function-level activity. The Oligo platform also continuously monitors application behavior to detect anomalies and mitigate them before the vulnerability is exploited.
“This allows security teams to accurately pinpoint where code vulnerabilities exist and if they are in use, providing a clear picture of true application risk.”
Avery Schwartz, a general partner at Greenfield Partners, said: “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.”
