SaaS security provider raises $50M to boost application security  

Taking care of the present day business assault surface area is tricky. With companies keeping an regular of 254 SaaS apps, security groups want to have comprehensive visibility throughout the hybrid cloud to mitigate software protection vulnerabilities at tempo, which handful of have the tools to do. 

SaaS safety suppliers like Skybox Protection, which now announced it has elevated $50 million in funding from CVC Expansion Funds, Pantheon and J.P Morgan, are aiming to improve transparency more than the attack floor via the use of security plan administration and vulnerability management. 

Skybox Stability employs a mixture of infrastructure context and danger intelligence to boost visibility of the assault surface area throughout IT, hybrid cloud and OT environments. With this details, stability teams can carry out discovery, prioritization and remediation for possible exploits across the cloud. 

This newest financing highlights that protecting SaaS apps is significant for preserving the assault surface as it spans the hybrid cloud.

Why application security is crucial to securing the assault surface 

Whilst the common boost in cloud adoption has paved the way for new applications in the place of work, these proliferating apps have launched new vulnerabilities. In point, research shows that 85% of apps have “critical” vulnerabilities. 

As much more and extra applications enter hybrid doing the job environments, protection analysts want to have the visibility to identify these apps and test them for vulnerabilities at scale if they want to secure the attack surface area. 

“The swift adoption of new technologies pushed by digital transformation, cloud migration, the hybrid get the job done lifestyle and the IIoT (industrial online of items) increase [have] remaining security groups scrambling to control an at any time-increasing attack area and a skyrocketing quantity of vulnerabilities,” claimed Mordecai Rosen, CEO of Skybox Security. 

“Today’s modern day businesses require to be agile and adaptable to do well, and each IT and OT hybrid cloud environments require to preserve up with the fast pace of adjust. As networks broaden and develop into additional fragmented, IT groups are challenged to manage an pretty much innumerable amount of devices, procedures and safety vulnerabilities when sustaining alignment throughout purposeful silos and with restricted assets,” Rosen reported. 

Skybox Security aims to give this by featuring a remedy for controlling the possibility of app migration, tests for exposures all through the assault surface and mitigating vulnerabilities ahead of risk actors can exploit them. 

For instance, the remedy collects and aggregates vulnerability knowledge from scanners, EDRs, CMBDs, stability controls, OT belongings and threat intelligence to detect vulnerabilities exactly where they exist in the surroundings. 

The SaaS security market 

Skybox Security’s concentrate on SaaS software stability areas it in the group of the world SaaS stability marketplace, which researchers valued at $8.2 billion in 2021 and believed will mature to $21.1 billion by 2028. 

The group is competing towards a quantity of vendors together with Tenable, a vulnerability and exposure management company, which gives vulnerability and misconfiguration discovery and chance scoring. Tenable just lately announced elevating $174.9 billion in earnings in its 3rd quarter 2022 monetary final results. 

Another competitor is Tufin, a firewall administration and community protection seller, which delivers automatic firewall and stability coverage administration together with network protection change automation. Tufin most not long ago announced raising $29.5 million in profits in the 2nd quarter of 2022. 

According to Rosen, the important differentiator in between Skybox Safety and other rivals is its combination of publicity administration and vulnerability management into a one platform. 

“Skybox is the very first firm to launch a SaaS option for security plan and vulnerability management in equally on-prem and multicloud environments,” Rosen stated.