Oxeye, a cloud-native application security testing (AST) platform, has closed a $5.3 million seed financing round led by MoreVC, a seed-stage venture capital fund in Israel, Oxeye announced.
The latest round includes support from i3 Equity Partners and other cybersecurity-focused investors as Oxeye prepares to introduce its AST platform.
With headquarters in Israel, Oxeye was founded by Dean Agron and Ron Vider, who both have over a decade of experience in application and cloud security. The Oxeye security testing solution, currently in beta, was built for AppSec, Dev and DevOps teams, and it was designed to help teams tackle cloud-native challenges like containers, APIs, microservices, clusters and other cloud-based components.
The new funding will be used to complete product development, increase awareness around the company’s novel approach, and expand sales, marketing and operations, Oxeye said in a news release.
Oxeye’s emergence from stealth comes amid the continued proliferation of cloud-native apps and services. Over the next two years, IDC expects as many apps and services to be developed using cloud-native approaches as the total number developed in the previous four decades combined.
“Cloud native is the de-facto standard for building new applications. This tectonic shift has a major effect on code vulnerabilities. These are no longer only flawed lines of code but rather vulnerable flows stretching over multiple microservices and multiple infrastructure layers.” said Dean Agron, Oxeye’s CEO and co-founder.
Oxeye provides a cloud-native application security testing solution designed for modern architectures. To learn more, visit www.oxeye.io.