Neosec, a Palo Alto, Calif.-based provider of a solution to protect APIs from business abuse and data theft, emerged from stealth mode and completed its Series A fundraise with a total investment of $20.7m.
Backers included True Ventures, New Era Capital Partners, TLV and SixThirty in addition to security visionaries Mark Anderson, Gary Fish, Mickey Boodaei, Rakesh Loonkar and Shailesh Rao.
Co-founded by CTO Ziv Sivan and CEO Giora Engel, Neosec provides a SaaS platform that unifies security and development teams to protect modern applications from threats.
The platform establishes and constantly maintains a complete inventory of APIs in use and even generates missing documentation for ones that are previously unknown. Neosec audits the risk posture of all discovered APIs and identifies those transferring sensitive data. The platform reveals any discrepancies between existing API documentation and the parameters of the API. It then flags those APIs that are vulnerable or misconfigured and require fixing.
Neosec automatically learns the baseline behavior of every API user and client, correlating and profiling for multiple entities, including users, customers, business processes and partners. It enables the ability to see, investigate, and threat hunt using detailed timelines of behavior of each user entity.
The company has R&D in Tel Aviv, Israel. Mark Anderson, former President of Palo Alto Networks, is also a founding investor and Chairman of the Neosec board.