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Israel’s Canonic Security Getting Acquired by America’s Zscaler

Boris Goren Canonic CEO

Boris Goren Canonic CEO (company pic)

Canonic Security, an Israeli startup that offers a SaaS application security platform, is being acquired by American cloud security company Zscaler. The cost of the acquisition has not yet been revealed. Canonic raised $6 million in seed funding one year ago.

Founded in 2020 by CEO Boris Gorin and CTO Niv Steingarten, Canonic is a SaaS Application Security platform that “continuously” profiles apps and user accounts, identifies suspicious or out-of-policy behavior, and automatically reduces the SaaS attack surface. Canonic’s patent-pending App Sandbox captures any add-on and integration behavior — it provides access intelligence as well as threat & vulnerability insight by dynamically assessing network, data and platform API activities.

Cannonic explained that with the massive migration to the cloud, as organizations are adopting hundreds of SaaS platforms, their users are connecting thousands of third-party applications and browser extensions to their critical SaaS platforms like Atlassian Suite, Microsoft 365, Salesforce, Google Workspace, and Slack without IT’s permission.

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“When I speak with the top global CIOs, they consistently express their challenges with efficiently securing supply chain logistics due to the massive blind spot in SaaS-to-SaaS communications. While protecting SaaS platforms is necessary with CASB and SSPM, enterprises must reduce the supply chain attack surface, detect SaaS-native threats and automate responses,” said Jay Chaudhry, CEO, chairman and founder, Zscaler. “The addition of Canonic augments our CASB and SSPM capabilities and further strengthens the growing set of services on the Zscaler Zero Trust Exchange, the world’s largest cloud security platform, and provides our customers with unprecedented visibility and security of their SaaS applications. I am pleased to welcome the Canonic team to the Zscaler family as we execute on our vision to advance SaaS security.”

“While the SaaS ecosystem continues to grow, traditional CASB and SSPM solutions fall short to secure against the massive amount of supply chain attacks that are targeting organizations and their critical business applications,” said Boris Gorin, co-founder and CEO, Canonic Security. “The combination of Canonic with Zscaler’s existing inline and out-of-band CASB and SSPM offerings is an ideal technology fit that will accelerate how enterprises address SaaS-native threats and simplify operations by reducing the number of tools for SaaS security.”

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