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SaaS safety supplier raises $50M to increase software security  


Feb 9, 2023
SaaS security provider raises $50M to boost application security  


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Running the modern-day company assault surface is hard. With corporations retaining an ordinary of 254 SaaS applications, stability groups need to have full visibility across the hybrid cloud to mitigate application safety vulnerabilities at rate, which number of have the resources to do. 

SaaS security vendors like Skybox Protection, which today announced it has elevated $50 million in funding from CVC Advancement Money, Pantheon and J.P Morgan, are aiming to maximize transparency around the assault surface through the use of protection coverage management and vulnerability administration. 

Skybox Safety makes use of a blend of infrastructure context and danger intelligence to boost visibility of the attack floor throughout IT, hybrid cloud and OT environments. With this details, stability teams can carry out discovery, prioritization and remediation for opportunity exploits throughout the cloud. 

This hottest financing highlights that safeguarding SaaS apps is essential for protecting the assault area as it spans the hybrid cloud.


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Why software stability is important to securing the assault surface 

Whilst the popular maximize in cloud adoption has paved the way for new applications in the workplace, these proliferating apps have released new vulnerabilities. In reality, investigate reveals that 85% of applications have “critical” vulnerabilities. 

As more and extra apps enter hybrid performing environments, safety analysts need to have the visibility to detect these applications and examine them for vulnerabilities at scale if they want to guard the attack floor. 

“The rapid adoption of new technologies driven by digital transformation, cloud migration, the hybrid get the job done society and the IIoT (industrial net of factors) boom [have] left safety groups scrambling to take care of an at any time-increasing attack area and a skyrocketing amount of vulnerabilities,” claimed Mordecai Rosen, CEO of Skybox Protection. 

“Today’s modern day companies have to have to be agile and adaptable to be successful, and equally IT and OT hybrid cloud environments need to have to keep up with the swift tempo of improve. As networks broaden and turn out to be a lot more fragmented, IT groups are challenged to regulate an just about countless range of units, procedures and protection vulnerabilities whilst protecting alignment throughout purposeful silos and with limited assets,” Rosen explained. 

Skybox Safety aims to supply this by providing a answer for controlling the hazard of app migration, screening for exposures all through the assault surface area and mitigating vulnerabilities in advance of risk actors can exploit them. 

For instance, the resolution collects and aggregates vulnerability info from scanners, EDRs, CMBDs, stability controls, OT belongings and menace intelligence to identify vulnerabilities where by they exist in the ecosystem. 

The SaaS stability market 

Skybox Security’s concentration on SaaS application stability places it in the group of the global SaaS security current market, which scientists valued at $8.2 billion in 2021 and believed will expand to $21.1 billion by 2028. 

The corporation is competing in opposition to a quantity of suppliers which include Tenable, a vulnerability and exposure administration company, which gives vulnerability and misconfiguration discovery and risk scoring. Tenable not long ago introduced boosting $174.9 billion in revenue in its third quarter 2022 economical outcomes. 

A further competitor is Tufin, a firewall management and community stability vendor, which presents automatic firewall and protection policy management along with network stability change automation. Tufin most not long ago introduced increasing $29.5 million in income in the second quarter of 2022. 

According to Rosen, the vital differentiator in between Skybox Safety and other competition is its mix of publicity administration and vulnerability management into a solitary platform. 

“Skybox is the 1st corporation to launch a SaaS resolution for safety plan and vulnerability management in the two on-prem and multicloud environments,” Rosen claimed. 

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