SaaS security provider raises $50M to boost application security  

Managing the trendy enterprise assault floor is hard. With organizations sustaining an average of 254 SaaS apps, safety groups have to have full visibility throughout the hybrid cloud to mitigate utility safety vulnerabilities at tempo, which few have the instruments to do. 

SaaS safety suppliers like Skybox Security, which at the moment introduced it has raised $50 million in financing from CVC Development Funds, Pantheon and J.P Morgan, are aiming to extend transparency over the assault floor by way of using safety coverage administration and vulnerability administration. 

Skybox Safety makes use of a mix of infrastructure context and risk intelligence to extend visibility of the assault floor throughout IT, hybrid cloud and OT environments. With this data, safety groups can conduct discovery, prioritization and remediation for potential exploits throughout the cloud. 

This newest financing highlights that defending SaaS apps is essential for shielding the assault floor because it spans the hybrid cloud.

Why utility safety is essential to securing the assault floor 

Whereas the widespread enhance in cloud adoption has paved the way in which for brand new apps within the office, these proliferating apps have launched new vulnerabilities. Actually, analysis reveals that 85% of apps have “essential” vulnerabilities. 

As increasingly more apps enter hybrid working environments, safety analysts have to have the visibility to establish these apps and verify them for vulnerabilities at scale in the event that they wish to defend the assault floor. 

“The speedy adoption of latest applied sciences pushed by digital transformation, cloud migration, the hybrid work tradition and the IIoT (industrial web of issues) growth [have] left safety groups scrambling to handle an ever-expanding assault floor and a skyrocketing variety of vulnerabilities,” stated Mordecai Rosen, CEO of Skybox Safety. 

“As we speak’s trendy companies should be agile and adaptable to succeed, and each IT and OT hybrid cloud environments have to sustain with the speedy tempo of change. As networks broaden and turn into extra fragmented, IT groups are challenged to handle an virtually innumerable variety of gadgets, guidelines and safety vulnerabilities whereas sustaining alignment throughout practical silos and with restricted assets,” Rosen stated. 

Skybox Safety goals to supply this by providing an answer for managing the chance of app migration, testing for exposures all through the assault floor and mitigating vulnerabilities earlier than risk actors can exploit them. 

As an illustration, the answer collects and aggregates vulnerability information from scanners, EDRs, CMBDs, safety controls, OT property and risk intelligence to establish vulnerabilities the place they exist within the setting. 

The SaaS safety market 

Skybox Safety’s deal with SaaS utility safety locations it within the class of the worldwide SaaS safety market, which researchers valued at $8.2 billion in 2021 and estimated will develop to $21.1 billion by 2028. 

The group is competing in opposition to plenty of distributors together with Tenable, a vulnerability and publicity administration supplier, which presents vulnerability and misconfiguration discovery and danger scoring. Tenable not too long ago introduced elevating $174.9 billion in revenue in its third quarter 2022 monetary outcomes. 

One other competitor is Tufin, a firewall administration and community safety vendor, which presents automated firewall and safety coverage administration alongside community safety change automation. Tufin most not too long ago introduced elevating $29.5 million in revenue within the second quarter of 2022. 

Based on Rosen, the important thing differentiator between Skybox Safety and different opponents is its mixture of publicity administration and vulnerability administration right into a single platform. 

“Skybox is the primary firm to launch a SaaS resolution for safety coverage and vulnerability administration in each on-prem and multicloud environments,” Rosen stated.