Bionic, an Israeli startup that offers a platform to help organizations operate and protect applications, has raised $65 million in Series B funding, reported Calcalist. Bionic, which deals with Cloud Security Posture Management (CSPM), has now raised a total of $83 million in investment to date.
Founded in 2019 by CEO Idan Ninyo (a graduate of the IDF’s Unit 81 specializing in tech) and CTO Eyal Mamo (a graduate of the IDF’s vaunted high tech Unit 8200), Bionic is an Application Security Posture Management (ASPM) platform that can proactively reduce and mitigate security, data privacy, and operational risks by continuously analyzing an entire application architecture and all its dependencies that run in production. Unlike cloud security posture offerings, Bionic provides visibility into the application layer to help organizations manage the security posture of applications in production.
Bionic explains that Application Security Posture Management (ASPM) is a complete and total understanding of the application architecture based on the application code—not based on monitoring traffic or interaction of the cloud infrastructure. With offices in both Palo Alto, California, and Tel Aviv, Bionic now employs about 80 people.
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“Our last funding round was at the end of 2020 and we avoided raising more money in 2021 because we had enough,” the Bionic CEO told Calcalist. “We completed this round in less than a week. We received many excellent offers but selected Insight after understanding that they are the most suitable investors for us.”
“Organizations don’t know how many applications they are working on, meaning that they don’t know how to protect them. Developers and other R&D employees are constantly working on these applications and changing them all the time. Every small change makes the organizations very vulnerable,” explained Ninyo. “It is likely that these changes include at least one mistake that can cause a serious problem for the organization, both in terms of vulnerability and in meeting regulatory requirements. We map all the applications and alert them to any change and whether the change can hurt the organization.”