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Atmosec Raises $6 Million Seed Round; Launches Platform that Secures SaaS Ecosystem by Understanding Behavior of Third-Party Services

Atmosec, the SaaS security venture, announced its official launch out of stealth as well as the completion of a $6 million seed funding round, led by Glilot Capital Partners and Battery Ventures, with additional funding from the Co-Founders of Armis, Yevgeny Dibrov (CEO) and Nadir Izrael (CTO); Wiz Co-Founder and CEO, Assaf Rappaport and Ofer Ben-Noon, Co-Founder and CEO of Talon Cyber.

Connecting third-party services such as Slack, Dropbox, Google Workplace, ServiceNow and many others are necessary for growth, but this rapid expansion is often so fast and chaotic that monitoring new software, assessing risk of new connections and managing their cybersecurity posture is unfeasible. This chaotic and ever-expanding SaaS ecosystem is also attractive to attackers who exploit these often-unmonitored connections and seemingly legitimate business interactions, making it harder for CISOs and CIOs to properly protect their organizations.

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Atmosec was founded to help companies of all sizes overcome this challenge. By understanding the behavioral approach of applications, Atmosec uses contextual analysis to monitor the behavior of the applications themselves. This enables Atmosec to understand what is really occurring between numerous applications from a behavioral standpoint, allowing for the rapid detection of anomalies that can be handled swiftly by organizations.

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Cloud-native enterprises and those transitioning to the cloud are looking to elevate their visibility and illustrate that they are in control of their growing SaaS ecosystem – this is why we created Atmosec,” said Aner Gelman, Co-founder and CEO of Atmosec. “We have the unique ability to consider the actual behavior of SaaS platforms, which is not a focus of conversations today.”

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“We recognize a trend of security professionals prioritizing Saas Security solutions,” said Kobi Samboursky, Founder and Managing Partner at Glilot Capital Partners. “Atmosec has developed a solution that bridges the gap in securing this SaaS ecosystem, protecting cloud-enabled businesses from increasingly advanced attacks on SaaS services.”

“Organizations today rely on an ever-growing number of SaaS applications to run their businesses—so in many ways it’s surprising that many have inadequate systems to manage third-party risk,” said Adi Dangot Zukovsky, of Battery Ventures. “Atmosec is addressing this critical problem with new technology that provides cloud-native enterprises with greater visibility into their existing systems and helps them lower the risk of outsiders exploiting their third-party business applications and app-to-app connectivity paths.”

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[To share your insights with us, please write to sghosh@martechseries.com]

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