Cider Security, an Israeli cyber security startup that offers the AppSec Operating System, emerged from stealth Monday and revealed that it has raised $38 million in funding, with a recent Series A round led by Tiger Global Management. It is somewhat Ironic for a cyber security firm to say that it has “come out of stealth.”
Israel Startup Nation is best known for its cyber security firms, the most famous of which is Check Point, the company where former Mayor of Jerusalem and current member of the Knesset Nir Barkat made his fortune. But it is also known for its medtech startups too. Cider Security is the second Israeli startup to hit double digits in new investments so far in March for Israel, but not nearly as much as MDClone. That medtech startup raised $63 million in a Series C round of funding just last week.
Israel’s Checkpoint explains that AppSec is the process of finding, fixing, and preventing security vulnerabilities at the application level, as part of the software development processes. This includes adding application measures throughout the development life cycle, from application planning to production use. And Cider Security says that its AppSec platform provides a “unified view of the entire engineering ecosystem, providing Security teams with an in-depth understanding and comprehensive view of the technologies, systems, and processes unique to every engineering environment.” Security teams, boasts the company, are provided a highly tailored set of controls and solutions to optimize security and achieve full resilience across the entire CI/CD pipeline – all the way from code to deployment.
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“My co-founder Daniel and I endured many of the same challenges that security engineers face today, so we set out to build a new approach,” said Guy Flechter, CEO and co-founder of Cider Security. “By removing the barriers to implementing protection – in essence, democratizing security for AppSec teams – we are changing processes that many felt were set in stone. The level of excitement from users completely exceeded our expectations and we can’t wait to change how Security and Engineering teams from companies everywhere operate.”
The funding, says Cider Security, will be used to expand R&D operations in Israel and open new offices globally to support growing demand. Already in use with dozens of global companies, the company also boasts security leaders from Atlassian, Databricks, Netflix, Rapid7, Built Technologies, Lemonade, Rapyd, and others as part of their advisory board and investors.