Oligo raises $28M to secure open source libraries at runtime
Summary
Oligo Security, a Tel Aviv-based startup that focuses on runtime application security and observability to detect and prevent open source vulnerabilities, is coming out of stealth today and announcing that it has raised a total of $28 million in seed and Series A funding.The companys investors include Lightspeed Venture Partners, Ballistic Ventures and TLV Partners, as well as angel investors like Mallanox CEO and founder Eyal Waldman, Snyk CTO Adi Sharabani and former Google Cloud VP Eyal Manor. The company also participated in Intels Ignite accelerator in 2022.Oligos technology is based on eBPF, the increasingly popular technology to run sandboxed code in the Linux kernel and gain access to very detailed monitoring capabilities because of that without any major overhead. Indeed, Oligo argues that 85% of open source vulnerabilities that traditional scanners flag to developers arent even used in production.Co-founded by Nadav Czerninski (CEO), Gal Elbaz (CTO) and Avshalom Hilu (CPO), Oligo works across clouds and supports all major modern programming languages, including Python, Go, Java and Node.We have our patent-pending technology, which is based on eBPF. It allows us to safely and efficiently monitor the runtime environment and then first identify which vulnerabilities are actually relevant. A library like NumPy, for example, is typically only used for computations, but if it suddenly wants to access the network, something is clearly amiss.Solving the open source security challenge starts with the ability to accurately assess the actual risk of code vulnerabilities, said Alex Nayshtut, head of Security at Intel Strategy Office.