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DevSecOps Startup Oxeye Emerges From Stealth With $5.3 Million in Funding

DevSecOps startup Oxeye emerged from stealth mode on Tuesday with a cloud-native application security testing platform and $5.3 million in seed funding.

Currently in Beta, the company’s automated platform is designed to help developer, security and DevSecOps teams identify and address code vulnerabilities before they reach production.

OxeyeOxeye’s product is designed to test applications during the CI/CD process, providing customers information on the risks and severity of vulnerabilities found in functional code, third-party code and libraries, as well as cloud infrastructure code. The company says the product is easy to deploy and it does not require adding any code.

The platform can be integrated with a wide range of products, including AWS, Google Cloud, Azure, Kubernetes, Docker, GitHub, BitBucket, CircleCI, GitLab, Slack, Jira, Trello and others.

Based in Israel, Oxeye was founded by Dean Agron (CEO) and Ron Vider, who have over a decade of experience in application and cloud security.

The company’s seed funding round was led by Israeli venture capital fund ​​MoreVC, with participation from i3 Equity Partners and other cybersecurity-focused investors. The money will be used to complete product development, as well as to expand marketing, sales and operations.

“Oxeye’s laser focus on the cloud native sector of Application Security Testing (as opposed to traditional AST) gives the company a unique advantage in one of the fastest-growing areas of technology,” said Michael Sutton, former CISO of ZScaler and Oxeye investor. “With successful cyberattacks costing millions to application providers, the revenue opportunity for Oxeye is quite significant.”

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.