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 must 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 right now 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 via using safety coverage administration and vulnerability administration. 

Skybox Safety makes use of a mixture of infrastructure context and risk intelligence to extend visibility of the assault floor throughout IT, hybrid cloud and OT environments. With this info, 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 vital to securing the assault floor 

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

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

“The fast adoption of recent 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,” mentioned Mordecai Rosen, CEO of Skybox Safety. 

“Right this moment’s trendy companies have to be agile and adaptable to succeed, and each IT and OT hybrid cloud environments must sustain with the fast tempo of change. As networks broaden and develop into extra fragmented, IT groups are challenged to handle an nearly innumerable variety of gadgets, guidelines and safety vulnerabilities whereas sustaining alignment throughout practical silos and with restricted assets,” Rosen mentioned. 

Skybox Safety goals to offer 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. 

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

The SaaS safety market 

Skybox Safety’s deal with 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 towards various distributors together with Tenable, a vulnerability and publicity administration supplier, which provides vulnerability and misconfiguration discovery and threat 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. 

In accordance with Rosen, the important thing differentiator between Skybox Safety and different rivals is its mixture of publicity administration and vulnerability administration right into a single platform. 

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