Virtual Event: Threat Detection and Incident Response Summit - Watch Sessions
Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Application Security

Grip Security Raises $25 Million to Secure SaaS Applications

Grip Security, an Israeli startup that helps organizations securely adopt software-as-a-service (SaaS), on Tuesday announced the closing of a $19 million Series A funding round led by Intel Capital.

Grip Security, an Israeli startup that helps organizations securely adopt software-as-a-service (SaaS), on Tuesday announced the closing of a $19 million Series A funding round led by Intel Capital.

Founded in February 2021, the Tel Aviv-based SaaS security provider emerged from stealth in April 2021 with $6 million in seed investment. Existing investor YL Ventures also participated to the new funding round.

Grip Security provides technology to help secure business-critical applications that have access to sensitive data, production environments and source code.

The company is looking to replace replace CASB (Cloud Access Security Broker) tools by delivering comprehensive visibility and control over SaaS applications within an organization’s environment, including shadow software.

Grip Security says its automated solution helps organizations identify, monitor, and protect SaaS applications on-premises and in the cloud, regardless of the devices they have been deployed on.

The company currently has an employee base of 25, but it plans to triple staff 2022, as well as to invest in accelerating product development and in expanding go-to-market in the United States.

“SaaS is self-service, with the barrier of adoption being only a signup form. This leaves CISOs in a frustrating position. With existing inadequate solutions, CISOs must place barriers to SaaS adoption or prohibit it entirely in order to secure their organization, impeding innovation. We believe a self-service problem requires a self-governing solution,” Lior Yaari, CEO and co-founder of Grip Security, said.

Advertisement. Scroll to continue reading.

Related: Anti-Fraud Bot Protection Firm Kasada Bags $23 Million Investment

Related: Blockchain Security Provider CertiK Raises $80 Million

Related: Privacy Startup Soveren Raises $6.5 Million Seed Round

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

SecurityWeek’s Threat Detection and Incident Response Summit brings together security practitioners from around the world to share war stories on breaches, APT attacks and threat intelligence.

Register

Securityweek’s CISO Forum will address issues and challenges that are top of mind for today’s security leaders and what the future looks like as chief defenders of the enterprise.

Register

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Vulnerabilities

Less than a week after announcing that it would suspended service indefinitely due to a conflict with an (at the time) unnamed security researcher...

Data Breaches

OpenAI has confirmed a ChatGPT data breach on the same day a security firm reported seeing the use of a component affected by an...

Artificial Intelligence

The CRYSTALS-Kyber public-key encryption and key encapsulation mechanism recommended by NIST for post-quantum cryptography has been broken using AI combined with side channel attacks.

Data Protection

The cryptopocalypse is the point at which quantum computing becomes powerful enough to use Shor’s algorithm to crack PKI encryption.

Cybercrime

The changing nature of what we still generally call ransomware will continue through 2023, driven by three primary conditions.

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

Cybercrime

A recently disclosed vBulletin vulnerability, which had a zero-day status for roughly two days last week, was exploited in a hacker attack targeting the...