After finding vulnerabilities in Apple and Meta, Oligo raises another $60 million
Israeli startup Oligo has raised $60 million to further develop its runtime application security platform. The technology enables the blocking of cyberattacks in real-time without requiring application downtime.
The rise of AI tools has not only helped write code or generate holiday greetings, but it also helps turn script kiddies into skilled hackers, with the time between the discovery of a vulnerability and its exploitation shortened to a minimum. The Israeli startup Oligo claims it can protect companies by providing runtime security. To further this mission, the company is raising another $60 million.
Blocking vulnerabilities without shutting down applications
Oligo develops a platform that allows for deep analysis of applications, cloud environments, and AI systems at runtime, without needing access to the source code. The system builds a behavior profile for every code library and identifies anomalies to stop potential attacks. This allows security and development teams to focus on truly dangerous vulnerabilities rather than just monitoring infrastructure or code statically.
"Our most significant advantage is Runtime Exploit Blocking. There is currently no other solution in the world capable of blocking exploit attempts at the application level without shutting it down. This means our customers can defend themselves against both known and new, unknown attacks while maintaining the availability of business-critical applications," says Nadav Cherninsky, CEO of Oligo.
"Organizations need to know not only which vulnerabilities exist in their systems, but which are actually exploitable in their environment. Our platform provides customers with unequivocal proof of which vulnerabilities are indeed exploitable and allows blocking attack attempts even for vulnerabilities that have not yet been patched or those for which there is no fix at all yet," adds Cherninsky. Last year, the company found a vulnerability in Meta's Llama AI model and a number of security vulnerabilities in Apple's AirPlay standard. "During the last year, we tripled our revenues, following the expansion of work with CISOs who are seeking to deal with attackers using AI and with the growing risks arising from code generated using AI," explains Cherninsky.
Another $60 million in funding
Oligo was founded by three entrepreneurs: CEO Nadav Cherninsky, CTO Gal Elbaz (formerly at Check Point), and CPO Avshalom Hilu. The three are childhood friends who served together in the Aman cyber unit. On Wednesday, the company announced the completion of a $60 million funding round led by Ballistic Ventures, with participation from Greenfield Partners, Red Dot Capital, Lightspeed Venture Partners, and TLV Partners. Several angels also joined the round, including Yasmin Lukatz and Eyal Waldman. To date, the company has raised $140 million and employs 100 people, with about 70 based in Israel.
