On June 15, 2022, Boldstart Ventures, Insight Partners, Tiger Global Management, and strategic angel investors led a USD 38.5 million seed investment round for the cybersecurity firm Jit.io, which makes product security accessible to cloud-based application developers.
What the founder has to say:
Founding Co-CEO Tsahy Shapsa:
“We gave consideration to the crisis. We are creating a business that is transforming a market, just as Snowflake, and this takes time and money. We were not interested in receiving such a significant sum of money, but Insight Partners and Tiger Global approached us, said we were undertaking something groundbreaking, and made it obvious they thought we required more funding than we had anticipated. Snyk’s initial investor was Boldstart Ventures, the third investor, which specializes in businesses that create solutions for development organizations and is the seed fund with the most unicorns in the world.
Our studio is unique compared to anything that has come before and it enables us to launch multiple businesses simultaneously. We have so far created two: Jits, which we are announcing today, and Slim.ai, which was founded in the United States and raised roughly USD 40 million. We made the decision to create a body that recognizes that power in software businesses is currently shifting to the development body. We have already started a business, and like Snowflake’s creator, we’ll grow it to the point where we can hand it off to a qualified CEO who can lead it to major expansion.”
More about the company:
Ron Zalkind, Tsahy Shapsa, Gil Zimmermann, Aviram Shmueli (CPO), David Melamed, and others launched the business last year. They act as Co-CEOs (CTO). The business also disclosed that Abby Kearns had joined the advisory board of the business as part of the investment announcement. Kearns has extensive knowledge of the open source and cloud-native technologies. About 40 employees work for the company, which has offices in Tel Aviv.
Jit creates a simple on-ramp for integrating security into the workflow of developers and DevOps. Jit is made for contemporary engineering teams that are creating cloud-native software using continuous integration/continuous development (CI/CD) best practices and want to guarantee that product security is present from day one. It does this by providing unified orchestration and management for the best and most well-liked open-source and cloud-native security tools.
A newly disclosed entity behind the business is dubbed FXP, a new Israeli-American startup venture studio. Shapsa, Ron Zalkind, and Gil Zimmermann are in charge of FXP. All three were former founders of Cloudlock, which Cisco purchased, and have now made the decision to go in a new direction in which they will launch businesses using a different business model.
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