Ox Security, an Israeli startup specializing in application security, has successfully secured a $60 million Series B funding round. Leading the investment was Deutsche Telekom’s venture arm DTCP, with significant contributions from IBM Ventures, Microsoft, Swisscom Ventures, and Evolution Equity Partners. Since its inception, Ox Security has raised a total of $94 million in funding. The company endeavors to tackle two pressing issues in the realm of application security: the rise of AI-generated code and the challenge of alert fatigue. With traditional code scanners often bombarding users with countless low-value alerts, Ox Security aims to streamline the process by focusing on exploitable and reachable issues, whether generated by AI or human effort.
This strategic adjustment is poised to address the rapidly evolving demands of the industry. Demonstrating strong momentum, the startup has recently surpassed $10 million in annual revenue and bolstered its client list with esteemed names like Microsoft, IBM, and SoFi. Founded by former Check Point executives Neatsun Ziv and Lior Arzi, Ox Security plans to leverage the latest funds for product innovation and international expansion. At the core of its future strategy is the “pipeline bill of materials” concept, designed to map software supply chain risks efficiently. These financial boosts and strategic initiatives are likely to solidify Ox Security’s position in the competitive landscape.
