Legit Security launches out of stealth with Series A investment of $30 million
Legit Security, an Israel cyber security company with an enterprise SaaS solution to secure an organization’s software supply chain, announced last week its launch out of stealth mode with a Series A $30 million funding.
According to information provided by the company, Legit Security protects software supply chains from attack by automatically discovering and securing the pipelines, infrastructure, code and people so that businesses can stay safe while releasing software fast.
The company will use the funds to expand its engineering team and continue building out it’s go-to-market organization in the United States with offices in Austin and Palo Alto.
By 2025, 45% of organizations worldwide will have experienced attacks on their software supply chains by 2025 – a three-fold increase from 2021. This, according to a recent Gartner report.
Companies can no longer rely solely on traditional security tools and code scanners for protection, as more organizations adopt modern applications, agile development, and DevOps. These complex software supply chains, at the heart of digital business and critical infrastructure, are now prime targets for cyber-attacks, requiring new solution approaches.
“Enterprises increasingly rely on software to do business, and they’re adopting cloud, DevOps, CI/CD and agile techniques to move fast,” said Roni Fuchs, CEO of Legit Security. “However, this has created a huge new, unprotected attack surface that cybercriminals have targeted, and their attacks are escalating.
“Right now, enterprises don’t need another code scanner. They need a holistic security solution for the broader software supply chain environment. That’s why we founded Legit Security and brought on world-class cybersecurity experts that share the same vision.”
Legit Security helps companies protect their end-to-end software supply chain environment and software releases in real-time through automated vulnerability discovery and analysis, security policy enforcement, and continuous assurance.
The platform scans software development pipelines for gaps and leaks, development infrastructure and systems within those pipelines, and the people and their security hygiene as they operate within it. The solution doesn't interfere with existing development tools and workflows, and includes continuous assurance and governance capabilities to monitor adherence to regulatory requirements and compliance frameworks in real-time.
Let by CEO Roni Fuchs, CtO Liav Caspi, and VP of R&D Lior Barak, Legit Security has assembled a team of security experts from the renowned Israeli Defense Force’s Unit 8200 as well as from Checkmarx, Ping Identity, Duo/Cisco, Microsoft and other leading cybersecurity firms in the US and Israel.