Application detection and response (ADR) startup Oligo Security on Wednesday announced raising $50 million in a Series B funding round that brings the total raised by the company to $80 million.
The new investment round was led by Greenfield Partners. The company said Ballistic Ventures, Lightspeed Venture Partners, Red Dot Capital Partners, Strait Capital, and TLV Partners also purchased equity positions.
Founded in 2022, the Tel Aviv-based Oligo provides deep application inspection at runtime, which allows it to monitor open source libraries and software functions to help corporate defenders to pinpoint security gaps.
Leveraging the eBPF technology that runs sandboxed code in privileged contexts, Oligo’s ADR product promises continuous monitoring of application behavior, creating profiles that can be used to identify anomalies and prevent breaches.
According to the Israeli startup, insight into runtime environments significantly cuts false positives, allowing it to detect application exploitation attempts in real-time and prevent cloud-based attacks, with ultra-low overhead.
Oligo, which emerged from stealth in 2023, plans to use the new capital to expand its global go-to-market efforts to meet demand for its platform.
“Existing application security and runtime approaches are simply not suitable for this new era of modern software. 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,” Oligo co-founder and CEO Nadav Czerninski said.
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