Oxeye, an Israeli startup offering next-generation cloud-native application security testing, is being bought out by GitLab, a DevOps software firm whose platform combines a number of features to streamline the software development lifecycle, reported Israel’s Calcalist. Neither company has yet confirmed the deal, but Calcalist said it could be for as much as $40 million.
Cybersecurity is more important than ever, which is why they are really bringing in the money these days. And investors certainly have reason to believe that cybersecurity will bring them their best return on investment when it comes to Israeli firms. Security is almost synonymous with Israel Startup Nation. Hackers are not only motivated by money or politics. They often just like being malicious. So even small companies need to be on their guard and be sure to properly protect their systems. In recent months two different Israeli companies were ransomware attacks by the Black Shadow hackers.
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Just last week it was announced that Avalor, an Israeli cybersecurity startup, is being bought out by American cybersecurity giant Zscaler for $350 million.
Oxeye helps transform AppSec programs from focusing on vulnerabilities to comprehensively determining and prioritizing application risks.
Cloud-native applications are built with technologies like containers and micro services. They pose unique security challenges and traditional security testing methods might not suffice.
AppSec, short for application security, refers to the practices and processes involved in securing software applications throughout their entire lifecycle. AppSec entails identifying, fixing, and preventing security vulnerabilities in applications. It also mitigates risks associated with software exploits and can build secure applications from the ground up.
Traditionally, security testing happened after applications were developed. Today, AppSec emphasizes “shifting left” – integrating security practices throughout the development process, from the beginning. This proactive approach helps catch and fix vulnerabilities early on, saving time and resources.
Founded in 2014, GitLab calls itself a complete DevOps platform, delivered as a single application, fundamentally changing the way Development, Security, and Ops teams collaborate and build software. From idea to production, GitLab helps teams improve cycle time from weeks to minutes, reduce development costs and time to market while increasing developer productivity.
Oxeye was founded in 2018 by Dean Agron and Ron Vider, each with over a decade of experience in application and cloud security. Oxeye is focused on the need to reduce the troubling noise surrounding everything AppSec related. The exponential growth in the amount of code and applications, all together with the transition to modern, distributed applications, have made existing AppSec solutions incapable of providing an efficient and actionable solution. The company’s vision is to help organizations develop secured applications with high confidence that their code is risk-free – all with minimal effort.
