Adaptive Shield, an Israeli cybersecurity company that specializes in SaaS application security, recently announced the closing of a $4M seed round led by Vertex Ventures. Adaptive Shield was founded with the goal of creating a localized solution for customers to manage security settings across all of their SaaS applications. Companies today rely heavily on SaaS services but often neglect or simply are not able to address individual security risks; with the help of Adaptive Shield, customers are able to easily manage their security settings and prioritize weaknesses.
Why this transaction?
The York IE team chose this as our Transaction of the Week (TOW) because this shows the broader trend of companies migrating to cloud based solutions; which requires more stringent security measures as application portfolios expand. At nearly every level, companies rely heavily on their application stack but do very little to maintain the thousands of security settings across every platform. With their non-invasive solution Adaptive Shield is able to proactively search for & find misconfigurations in security settings across SaaS platforms. As companies continue to switch to cloud based applications, having a localized platform to manage security settings for all applications becomes a necessity.
Prioritization of Security Solutions
As more and more companies are switching to the cloud, data breaches are becoming commonplace. According to research conducted by IBM, the average data breach costs roughly $3.86M and will take an organization nearly 280 days to detect and contain. To fight against these malicious attacks companies have spared no expense on their cybersecurity solutions. To show this growing demand for security solutions the York IE team compiled data of early stage funding in cloud security:
As shown in the graph above, cloud security companies have been gaining traction in early stage funding rounds. Recent years have shown that migration to the cloud is in full swing, as such, companies are requiring more unique security solutions to meet their individual needs. SaaS applications provide their users with a host of benefits, but as their stack continues to expand, security risks grow exponentially. Adaptive Shield enables their customers to solve this issue with their easy to integrate solution that gives security teams a singular platform to manage their SaaS application security.