Israeli Startup Astrix Security has Banked $15 Million Capital Investment

Investment

Astrix Security, an Israeli firm, has raised $15 million in seed funding to develop technologies to assist businesses protect third-party app integrations.

Bessemer Venture Partners and F2 Capital led the seed round, according to Astrix, which is based in Tel Aviv. Venrock and a group of angel investors were also there.

The startup, created by Israeli software experts Alon Jackson and Idan Gour last year, is tackling the persistent problem of shadow IT, where unmanaged apps litter networks and generate attack surface expansion.

Astrix claims that its solution can provide a real-time inventory of all third-party connectivity to enterprise applications, complete with contextual data for assessment and rapid mitigation.

Astrix is positioned as a tool for detecting changes and harmful abnormalities in third-party integrations and low-code/no-code workflow settings automatically.

“To promote business development and efficiency, end users are increasingly weaving third-party integrations and automations into the fabric of their operations,” Astrix said in a note announcing the new funding. “This twisted network of third-party connections to organisations’ important systems is mostly unmonitored, resulting in shadow integrations and exposing firms to a growing attack surface prone to supply chain attacks, data spillage, and compliance violations,” according to the report.

Astrix CEO Alon Jackson, who previously ran Argus Cyber Security’s R&D group, said the company was developed to solve problems other than safe access management.

“There are a lot of solutions for safe user access management out there,” Jackson said, “but none that assist enterprises protect app-integration access to their important platforms.”

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Jennifer Thomas
Jennifer Thomas is the Co-founder and Chief Business Development Officer at Cybers Guards. Prior to that, She was responsible for leading its Cyber Security Practice and Cyber Security Operations Center, which provided managed security services.