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New Player Kicks Off $25 Million Battle Against App Hackers: Meet Kodem!

New Player Kicks Off $25 Million Battle Against App Hackers: Meet Kodem!

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Introducing Kodem: A Startup Revolutionizing Application Security

Kodem is a new startup company that specializes in the field of application security. Founded by security experts from NSO Group, Israel, the company’s primary focus is to determine and mitigate potential risks by using the runtime intelligence of individual applications. Today, Kodem is launching its platform globally with an impressive $25 million in funding.

Kodem’s Funding Details

Kodem is funded by a Series A of $18 million led by Greylock and a seed of $7 million that is co-led by TPY Capital and Greylock. The company has been using the funds to build and now launch its platform globally. Although Kodem was founded in 2021, it already boasts of having customers in financial services, insurance, and technology sectors.

The Lucrative Area of Application Security

Application security is a complicated area of enterprise security risks, but it’s also a lucrative one. Typically, companies do not have the resources to build tools to manage application security internally. It’s estimated that application security will be worth $9.9 billion by the end of this year, with that value expected to grow to some $22 billion by 2020.

The Inspiration Behind Kodem

Kodem’s CEO, Aviv Mussinger, along with the co-founders Pavel Furman (CTO) and Idan Bartura (head of engineering), were inspired to start Kodem after working for years as security researchers at NSO. At NSO, they were not directly involved in the aspects of NSO and Pegasus that got essentially weaponized by state organizations and others. However, the insights they gained working there informed their ideas about what kind of company to start and what to tackle.

Kodem’s Solution to the Issue

One of the key takeaways from their NSO experience was that the current range of application security tools has a common issue: all of them are designed to flag all potential issues in a kind of no-stone-unturned approach. To solve this issue, Kodem analyzes applications’ runtime data and then produces application security alerts that are specifically relevant to an organization’s particular stack of applications and services. By doing so, Kodem reduces the number of alerts by 95%, making triaging much easier for security teams.

A Partnership with the Highest Levels of Accuracy

Kodem’s exceptional product team is currently working on developing the next generation of application security – one that is cloud-native, deploys seamlessly, and provides the highest levels of accuracy with strong growing coverage. Asheem Chandna, Partner at Greylock, states that as enterprises continue to move their workloads to the cloud, application security is growing in importance and priority for IT cybersecurity teams.

FAQs: Answered by Kodem

1. How is Kodem different from other application security tools?

Kodem’s solution is unique in that it analyzes applications’ runtime data and produces application security alerts that are specifically relevant to an organization’s particular stack of applications and services. By doing so, Kodem reduces the number of alerts by 95%, making triaging much easier for security teams.

2. Which industries is Kodem targeting?

Kodem has customers in financial services, insurance, and technology sectors. However, the company’s product is relevant to any organization that uses applications and services.

3. What types of risks does Kodem mitigate?

Kodem aims to mitigate all potential risks that can arise from using applications and services.

4. How does Kodem’s product work?

Kodem analyzes applications’ runtime data and then produces application security alerts that are specifically relevant to an organization’s particular stack of applications and services.

5. How does Kodem’s product reduce the number of alerts?

Kodem’s product reduces the number of alerts by 95% by producing only those alerts that are specifically relevant to an organization’s particular stack of applications and services.

Conclusion

Kodem’s innovative solution to the issue of application security alerts is a game-changer in the market. By producing only the most relevant alerts, Kodem reduces the overwhelming noise that security operations teams often experience when using other tools. Kodem’s partnership with Greylock and TPY Capital will undoubtedly allow the company to continue revolutionizing application security, making it easier and more efficient for businesses.

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