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Oligo Security Exits Stealth with $28M for AppSec, Open Source Security

Israeli startup Oligo Security raises $28 million to build technology to detect and mitigate open source code vulnerabilities.

Oligo Security, an Israeli startup building technology to detect and mitigate open source code vulnerabilities, has raised $28 million in early stage venture capital funding.

The $28 million financing, split over seed and Series A rounds, included investments from  Lightspeed Venture Partners, Ballistic Ventures and TLV Partners.

Oligo Security emerged from stealth-mode on Wednesday with what is being described as a runtime application security and observability product that helps with the detection and prevention of open source code vulnerabilities in enterprise applications.

In a statement announcing the funding round, Oligo said its dynamic library-level analysis and behavior monitoring technology can identify vulnerabilities in running packages and prioritize fixes based on application context. 

“We zeroed in on a protection method that inspects each library in runtime or staging, allowing us to precisely identify attacks in cases of deviations and to fix the vulnerabilities that matter,”

said Nadav Czerninski, co-founder and chief executive at Oligo.

The company said its technology profiles the legitimate behavior of each library, creating a knowledge base of libraries’ profiles and can be used to alert or block whenever a library activity is not as expected. 

Related: Google, Adobe Announce New Open Source Security Tools

Related: Palo Alto to Acquire Israeli Software Supply Chain Startup

Related: Open Source Security Management Firm WhiteSource Raises $75 Million

Written By

Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. He is a security community engagement expert who has built programs at major global brands, including Intel Corp., Bishop Fox and GReAT. Ryan is a founding-director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world.

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