by Jim Masters • Nov 8, 2022
Wib, a pioneer in application programming interface (API) security, announced a $16 million investment led by Koch Disruptive Technologies (KDT), with participation from Kmehin Ventures, Venture Israel, Techstars and existing investors. The investment will be used to enhance Wib’s holistic API security platform and accelerate international growth as it expands operations across the Americas, U.K. and EMEA, the company said in a prepared statement.
Meanwhile, Veriti, a security infrastructure specialist, has emerged from stealth with $18.5 million in total funding. The funding consists of a $12 million round led by global software investor Insight Partners, which followed a $6.5 million round led by NFX and AMITI, the company said in a prepared statement.
The new funding will help Veriti scale to meet its growing customer base and further enhance its Unified Security Posture Management platform functionality.
Wib’s Push Into API Security
Wib’s API security platform provides complete visibility across the entire API landscape — from code to production, helping unify software developers, cyber defenders and CIOs around a single, holistic view of their complete API domain, the company said.
By delivering rigorous real-time inspection, management and control at every stage of the API lifecycle, Wib asserts that it can:
- Automate inventory and API change management
- Identify rogue, zombie and shadow APIs
- Analyze business risk and impact, helping organizations to reduce and harden their API attack surface.
Wib CEO and co-founder Gil Don explained the imperative for API security:
“APIs have become the Achilles heel of cyber defenses and the number one threat vector for cyberattacks. APIs account for 91% of today’s internet traffic with over 50% being invisible to business IT and security teams. These unknown, unmanaged and unsecured APIs are creating massive blind spots for CIOs that expose critical business logic vulnerabilities and increase risk.”
Veriti Listens, Acts and Innovates
To develop its solution, Veriti conducted extensive research and heard from hundreds of CISOs and IT directors from a wide array of industries about the challenges of maintaining their security posture. The end product is a “cutting-edge security platform that provides holistic visibility, proactive monitoring, and contextual, actionable insights,” the company said.
Veriti notes that its platform integrates with the entire security stack and consistently evaluates the organization’s risk posture by analyzing security configurations, logs, sensor telemetries and threat intelligence feeds.
Veriti CEO and co-founder Adi Ikan explained his company’s innovation track:
“The premise that security professionals are doomed to struggle with complexity and operational inefficiency to secure the enterprise is false. We have a well-versed team focused on creating a streamlined, frictionless management experience for all security teams to reduce effort and time spent in manual oversight. Insight Partners, NFX, Amiti, and Merlin Ventures all have vast resources and experience in cybersecurity, and we are extremely excited to be working with them as we continue to redefine security posture management on a larger scale.”
Veriti emphasized that it takes a “holistic approach to both the security infrastructure and the IT organization to maximize security and the ROI of every deployed solution.” Correspondingly, Veriti said the platform helps IT organizations understand the status of their cybersecurity investment, how and which business applications are being impacted by security solutions, and how to improve both with effective automation and machine learning.