Israeli's Astrix Security emerges from stealth with $15m seed round to secure enterprises' expanding web of third-party apps

Israeli's Astrix Security emerges from stealth with $15m seed round to secure enterprises' expanding web of third-party apps

Published: 23-02-2022 15:56:00 | By: Pie Kamau | hits: 5790 | Tags:

Astrix Security, the first app-integration access management solution, launched from stealth to modernize how enterprises monitor and control their ever-expanding web of interconnected third-party applications.  The company is backed by $15 million seed funding from lead investors Bessemer Venture Partners and F2 Venture Capital, with participation from Venrock and over 20 leading cybersecurity angel investors.

Astrix was co-founded by Alon Jackson, CEO, and Idan Gour, CTO, both award-winning cyber security experts with leadership experience in the private sector and the Israel Defense Force's 8200 elite cyber unit. The Astrix team is comprised of uniquely experienced subject matter experts.

Alon Jackson, CEO and Co-founder, Astrix: "There are plenty of solutions out there to secure user access management, but none that help organizations secure app-integration access to their critical platforms. As security experts, we understand how hard it is for organizations to maintain crucial security controls in highly complex and dynamic environments, particularly with increasing bottom-up adoption of third-party integrations by employees looking to get the job done. We built Astrix to equip security leaders with a platform to help them transform from connectivity gatekeepers to growth partners, and we are looking forward to embarking on this journey with them."

End users are increasingly weaving third-party integrations and automations into the fabric of their operations to drive enterprise growth and productivity, particularly amid a surge in remote and cloud-based work. But this tangled web of third-party connections to enterprises' critical systems is largely unmonitored, creating shadow integrations and exposing businesses to a growing attack surface vulnerable to supply chain attacks, data spillage, and compliance violations. The uptick in this type of devastating cybersecurity attack includes those on SolarWinds, CodecovWaydev and, more recently, the Red Cross.

Amit Karp, Partner, Bessemer Venture Partners: "We stated at Bessemer State of Cloud 2021 that Covid-19 more than doubled the rate of digital transformation across different vertical industries. This new digital world consists of different application integrations and automations which are defining the modern enterprise environment. Astrix Security is the first solution that enables organizations to secure these critical connections while allowing them to make the most of their ever-expanding third-party integrations. We're thrilled to invest in Astrix, who is growing fast and receiving a strong pull from the market, and join them on their journey building the first integration access management solution and defining a new category essential for this modern, hyper-connected world."

Astrix provides full integration lifecycle management, starting with an immediate inventory of all third-party connectivity to enterprise applications, enriched with contextual data for unique exposure assessment and precise mitigation. The platform automatically detects changes and malicious anomalies within third-party integrations and low-code/no-code workflow configurations, provides real-time remediations, and helps security teams seamlessly manage shadow integrations with out-of-the-box security policy and enforcement guardrails. The company's pioneering technology is already helping large enterprise customers across industries, including finance, travel, HR, and automotive.

Jonathan Saacks, Managing Partner, F2 Venture Capital: "As the landscape of cyber threats continues to rapidly evolve, Astrix is pioneering a bold new approach to help companies safely and confidently manage their growing cloud-based ecosystem. We're proud to align with Astrix's team of uniquely trained experts as they make headway protecting enterprises against one of the fastest growing threats in 2022 and beyond."