AppOmni, provider of a Software-as-a-Service (SaaS) security and management platform, announced that it has raised $10 million in Series A funding led by ClearSky.
New investor Inner Loop Capital also participated in the round, joining existing investors Costanoa Ventures, Silicon Valley Data Capital, and Twilio’s COO George Hu.
AppOmni, which has secured a total of $13 million in financing to date, will use the funding to accelerate sales and marketing operations, and bolster the startup’s product development teams at both their corporate headquarters in San Francisco and their Innovation Center in Carbondale, Colo.
With increasing adoption of SaaS, more and more burden falls on the enterprise to secure sensitive data. In fact, Gartner predicts that through 2025, 99% of cloud security failures will be the customer’s fault.
While cloud providers offer a variety of capabilities and controls for customers to secure access to their information, many enterprises lack necessary resources and SaaS/security expertise.
Unique data access and security models for each SaaS provider further complicates the task. AppOmni’s platform serves as a “Rosetta Stone”, translating current policies and configurations on the state of an organization’s cloud environment to ensure proper security guardrails are in place and being maintained.
Rather than identifying data breaches as they occur, AppOmni enables organizations to quickly identify and remediate risky configurations, improper access controls, and data exposures.
“As more businesses rely on cloud services, each with hundreds of service configurations, SaaS applications will continue to be a main source of data breaches. We are excited to be part of AppOmni’s journey.
“The team is composed of industry veterans that come from some of the largest and high profile SaaS companies where they gained unique perspectives on securing cloud applications,” said Patrick Heim, Operating Partner at ClearSky.
“With a great deal of focus being placed on infrastructure cloud security, we strongly believe that risks in SaaS environments have been largely overlooked and that AppOmni is uniquely positioned to uncover and manage them.”
AppOmni’s solution is ideal for organizations relying on SaaS solutions for business critical needs, and is already serving a diverse client base including Fortune 500 organizations and associations from a wide variety of industry sectors.
The platform provides customers an always-on dashboard that delivers visibility into the current state of their cloud/SaaS applications, deviations from their business intent, and a simple way to immediately verify the state of any application from both functional and security perspectives.
Unlike traditional solutions based on proxy or gateway architecture, AppOmni’s patent-pending technology can be deployed in minutes to continuously scan SaaS APIs and configurations to identify real-time data exposures and misconfigurations in minutes – often uncovering exposures a company didn’t know about.
“Cloud providers often do a great job securing their networks and infrastructure. But buying a safe car doesn’t make you a good driver. We’ve seen first hand how hard it is for organizations to apply consistent security and access controls across the broad spectrum of SaaS applications their business relies on,” said AppOmni CEO and Co-Founder, Brendan O’Connor.
“AppOmni is helping organizations solve the growing problem of securely managing and monitoring their disparate SaaS applications by providing much-needed insight, visibility, and governance into cloud services.
“We are thrilled to partner with ClearSky to continue our mission of securing the applications that power the enterprise. We look forward to expanding our rapidly growing customer base and increasing our reach in the market.”
RSA Conference announced the 10 finalists for its Innovation Sandbox Contest 2020. The competition calls on the most promising young companies in cybersecurity to showcase their transformative technologies to a panel of judges and live audience at RSA Conference 2020 in San Francisco. Past winners include Imperva, Phantom, and most recently, Axonius.
Dr. Herbert (Hugh) Thompson
On Monday, February 24, the finalists will present a three-minute pitch followed by a question-and-answer round as they battle on stage for the title of “Most Innovative Startup.” The renowned panel of expert judges includes:
- Asheem Chandna, Partner, Greylock Partners
- Scott Darling, President, Dell Technologies Capital
- Dorit Dor, VP Products, Check Point Software Technologies
- Patrick Heim, Partner and CISO ClearSky
- Paul Kocher, Researcher and Entrepreneur.
Dr. Herbert (Hugh) Thompson, Program Committee Chair of RSA Conference, will return to host the contest.
The Innovation Sandbox Contest 2020 finalists (in alphabetical order) are:
AppOmni is a leading software-as-a-service (SaaS) security and management platform providing data access visibility, management, and security of SaaS solutions. AppOmni’s patent-pending technology deeply scans APIs, security controls, and configuration settings to secure mission-critical and sensitive data.
BluBracket is an enterprise security solution for code in a software-driven world. BluBracket gives companies visibility into where source code introduces security risk while also enabling them to fully secure their code—without altering developer workflows or productivity.
Elevate Security solves for the human element. Using data companies already have, Elevate Security scores employee risk based on their security actions, showing actionable trends while delivering personalized communications that nudge employees to better security habits.
ForAllSecure aims to secure the world’s software. Using patented technology from CMU research, ForAllSecure delivers a next generation fuzzing solution to Fortune 1000 companies in telecom, aerospace, automotive and more. DARPA named ForAllSecure a Cyber Grand Challenge winner and MIT Tech Review named it one of the 50 Smartest Companies.
INKY is an industry leader in mail protection powered by unique computer vision, artificial intelligence, and machine learning. The company’s flagship product, INKY Phish Fence, uses these novel techniques to “see” each email much like a human does, to block phishing attacks that get through every other system.
Obsidian Cloud Detection and Response delivers frictionless security for SaaS. Using a unique identity graph and machine learning, Obsidian stops the most advanced attacks in the cloud. Unified visibility across applications, users, and data provides threat detection, breach remediation, and security hardening with no production impact.
SECURITI.ai is a leader in AI-powered PrivacyOps. Its PRIVACI.ai solution automates privacy compliance with patent-pending People Data Graphs and robotic automation. It enables enterprises to give rights to people on their data, comply with global privacy regulations and build trust with customers.
Sqreen is the application security platform for the modern enterprise. Organizations of all sizes trust Sqreen to protect, observe and test their software. As opposed to pattern-based approaches, Sqreen analyses in-app execution in real time to deliver more robust security without compromising performance.
Tala safeguards the modern web against client-side risk. Tala’s AI-driven analytics engine continuously interrogates site architecture to work in concert with an advanced automation engine that activates standards-based security to prevent a broad range of client-side attacks like magecart, XSS, session re-directs, and client-side malware.
Vulcan is a vulnerability remediation and orchestration platform that is modernizing the way enterprises reduce cyber risk. With its remediation-driven approach, Vulcan automates and orchestrates the vulnerability remediation lifecycle, enabling security, operational and business teams to effectively remediate cyber risks at scale.
“The RSAC Innovation Sandbox has catapulted young companies to success for well over a decade. In fact, the top 10 finalists have collectively seen 48 acquisitions and raised $5.2 billion in investments to-date,” said Linda Gray Martin, Senior Director and General Manager, RSA Conference. “But what’s really exciting is how the competition has propelled the entire cybersecurity community forward by encouraging much-needed innovation and collaboration in an industry that faces new changes, threats and challenges every day. This year’s finalists will undoubtedly make for a tough decision for the judges and a must-see event for RSA Conference attendees.”
The contest kicks off at 1:30 PM PT on February 24 at the Moscone Center and winners will be announced at 4:30 PM that same day.