SaaS safety supplier raises $50M to spice up software safety  

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

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

Skybox Safety makes use of a mixture of infrastructure context and menace 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 vital for shielding the assault floor because it spans the hybrid cloud.

Why software safety is essential to securing the assault floor 

Whereas the widespread improve in cloud adoption has paved the best way for brand spanking new apps within the office, these proliferating apps have launched new vulnerabilities. In reality, analysis exhibits that 85% of apps have “vital” vulnerabilities. 

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

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

“As we speak’s trendy companies must 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 increase and turn out to be 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 sources,” Rosen mentioned. 

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 menace actors can exploit them. 

For example, the answer collects and aggregates vulnerability knowledge from scanners, EDRs, CMBDs, safety controls, OT property and menace intelligence to determine vulnerabilities the place they exist within the surroundings. 

The SaaS safety market 

Skybox Safety’s give attention to SaaS software 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 various distributors together with Tenable, a vulnerability and publicity administration supplier, which provides vulnerability and misconfiguration discovery and danger scoring. Tenable just lately introduced elevating $174.9 billion in income in its third quarter 2022 monetary outcomes. 

One other competitor is Tufin, a firewall administration and community safety vendor, which provides automated firewall and safety coverage administration alongside community safety change automation. Tufin most just lately introduced elevating $29.5 million in income 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 mentioned.