Code risk platform startup apiiro snags $35 million, enters DevSecOps market

The company's platform is said to be the first to automatically remediate product risk at the design stage, enabling product security architects and developers to accelerate delivery and time-to-market

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apiiro, producer of the industry's first code risk platform that enables organizations to accelerate application and infrastructure delivery by automatically remediating risk with every change, announced Tuesday the company's official entry into the DevSecOps and risk management markets. 

In tandem with the launch, apiiro said it raised $35 million in funding from Ted Schlein, General Partner at Kleiner Parkins, and Saam Motamedi and Asheem Chandna, General Partners at Greylock. 
"With a prime focus on the DevSecOps market, apiiro's unique approach to understanding code and business risk is transformative and can significantly accelerate product delivery for enterprises," said Saam Motamedi, General Partner at Greylock and Board Member at apiiro. The apiiro platform serves enterprise customers across financial services, technology, gaming and healthcare industries.

apiiro is the industry's first code risk platform to enable product security architects, security champions and developers to accelerate delivery and time-to-market by automatically remediating product risk in every material change before it is shipped to production. The platform leverages patent-pending technology to learn the historical behavior of application code, Infra-as-Code, open source code and developers, and automatically remediate product risks at the design phase, apiiro says.

The company was founded by entrepreneur Idan Plotnik and Yonatan Eldar, alumni of an elite IDF cybersecurity unit. Prior to the launch of apiiro, Plotnik was the founder/CEO and Eldar was engineering manager at Aorato, a pioneer in the User and Entity Behavior Analytics space, which was acquired by Microsoft for $200 million. Plotnik and Eldar worked at Microsoft as engineering executives leading product strategy, engineering, data science and devops.

"apiiro was created to address enterprises board level discussions around the DevSecOps and risk management, and enable key application and infrastructure stakeholders to accelerate time-to-market by prioritizing and remediating only material risky changes -- all in one platform," said Idan Plotnik. 

According to the company, the platform enables enterprises to define adaptive governance and establish continuous security and compliance assurance at scale, without needing to write any code.
"Having overseen cybersecurity at one of the biggest financial services institutions in the world, the DevSecOps problem is still very real. There is a call for DevOps, security and risk management teams to collaborate, but without a technology like apiiro this type of learned risk is impossible," said Charles Blauner, apiiro Advisor and former Global CISO of Citi Group.  "Industries, like financial services, are prime for this type of technology as the application delivery pressure is palpable as various stakeholders are constantly pushing out new features."

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