Ox Security has closed an oversubscribed $60 million in its Series B funding round. The company’s mission is to secure AI and human code alike. DTCP was the biggest investor in the round. IBM Ventures, Microsoft, Swisscom Ventures, Evolution Equity Partners and Team8 made some noise as active participants. This funding increases Ox Security’s total funding raised to date to a hefty $94 million. The company was started in 2021 by Neatsun Ziv and Lior Arzi.
Ox Security is really at the epicenter of all this in the tech industry. In doing so, it has raised eyebrows with its creative new approach to securing code. The company scans more than 100 million lines of code each day. Today we’re the trusted partner of nearly 200 clients, including household names such as eToro, SoFi, Microsoft and IBM. The firm has made all 150 employees equity partners and is positioned to triple. It hopes to at least double its recurring annual revenue, which is close to $10 million now, by the end of the year.
To Ziv and Arzi, the two advanced software and IT engineers. Having worked together on security product lines at Check Point in the past, today they have set Ox Security up as a key player in the evolving cybersecurity landscape. And most importantly, they feel that the pace of development in AI has fundamentally changed the software development paradigm.
“Over the past year, AI has significantly transformed software development,” – Neatsun Ziv
AI has great potential to assist throughout the development process, benefiting experienced developers and first-timers alike. Ziv cautions that these tools often fall short at identifying more subtle security threats. Developers are more productive, he notes, thanks to Ox Security. It empowers them to continue pushing innovation forward, all while improving the security landscape of their organization.
“While these tools accelerate development for both experienced developers and beginners, they often lack the critical thinking and judgment needed to catch subtle security flaws … Ox frees up developers’ time, allowing them to focus on innovation, while simultaneously improving the organization’s overall security posture,” – Neatsun Ziv
Looking up the road, Ox Security is focused on developing a healthy culture and financial sustainability for the long haul. The company hopes to reach cash-flow positivity in the next two to three years. Ziv has expressed a clear vision for future growth:
“We want to position ourselves for long-term success and this way we can focus on scaling and reaching our bigger goals,” – Neatsun Ziv
Ox Security is the fastest-growing, most-innovative security startup you’ve never heard of. The company now faces fierce competition from deep-pocketed cybersecurity industry veterans like Snyk, Veracode, Synopsis and Checkmarx. Their funding is just as impressive, equally matching their current market position. This natural advantage prepares the company to meet future challenges and pursue new opportunities.