Tel Aviv-based startup Adaptive Shield has raised US$ 4M in a seed funding round held in August 2020, led by Vertex Ventures Israel.
The startup provides businesses with an automated solution to protect their SaaS applications by continuously scanning the internal settings to look for security issues.
The company’s co-founders Maor Bin and Jony Shlomoff apparently met in the Israeli Defense Forces, where they undertook training in cybersecurity and then worked at multiple other security companies before launching their own startup. CEO Maor Bin said that the Adaptive Shield team decided to focus on SaaS security as they feel this is a crucial problem only a few companies focus on. Although though SaaS providers have been enhancing their native security capabilities and controls, each has its personal security prototype and settings. This makes maintaining a steady policy across platforms, business units, and user groups an arduous task. Thus, Adaptive Shield solves this problem by providing an unceasing, automated solution and in-built knowledge base to make native SaaS security possible as well as easy to implement.
Emanuel Timor, General Partner at Vertex Ventures Israel said, “We are impressed by the vision Adaptive Shield has to elegantly solve this complex problem and by the level of interest and fast adoption of its solution by customers.”
The security features can be used by firstly setting up a user in the SaaS App and then logging into a given service through Adaptive Shield. Currently, the company supports most of the typical SaaS enterprise applications, including GitHub, Office 365, Salesforce, Slack, SuccessFactors and Zoom.
The company already has a number of clients, including some Fortune 500 companies across a number of industries. It has already capitalized some of the new funds obtained from this round, which closed before the COVID-19 pandemic struck the world, into creating more integrations for these customers. Adaptive Shield had also immediately started recruiting employees once the round closed and is now also in the midst of hiring its first operative in the U.S. to help with sales.
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