Kodem, Tel Aviv, Israel-based software composition analysis (SCA) platform that uses runtime intelligence to determine application risk, today launched from stealth and announced $25 million in funding.
The funding includes $18 million in Series A, led by Greylock with participation from TPY Capital, and a $7 million seed round co-led by the two investment firms.
The funds will be used to launch its platform globally and expand its go-to-market team.
Kodem is redefining application security by using runtime intelligence to determine actual application risk. This significantly reduces the time it takes to remediate issues and brings the number of alerts down by 95 percent, dramatically improving efficiency, saving organizations real time and money, and making applications safer.
"We started Kodem in response to the inefficiency of the application security process. With traditional tools, it's difficult for developers to see whether vulnerabilities are exploitable. After years of researching the problem, we found that the key to clarifying actual risk is to observe application behavior during runtime," said Aviv Mussinger, CEO and co-founder of Kodem. "By analyzing a running application, we can understand its context to know exactly which components are in use, how data moves between them, and the risk that is actually created. We based the Kodem solution on these findings, and we look forward to helping security teams build safer applications more efficiently."
The company’s core patented technology enables the ability to monitor the application in a non-intrusive way and to analyze its behavior and actual risks in real-time. Kodem is currently used by companies across industries, including financial services, insurance, and technology.
Company: Kodem Security, Inc.
Raised: $25.0M
Round: Seed Round and Series A
Funding Month: June 2023
Lead Investors: Greylock
Additional Investors: TPY Capital
Company Website: https://www.kodemsecurity.com/
Software Category: Software Composition Analysis (SCA) Platform
About the Company: Founded in 2021 by Aviv Mussinger, Pavel Furman, and Idan Bartura, Kodem Security is a software development company that offers a software composition analysis platform. It provides users with runtime intelligence to grasp the relevant application risks. The Kodem platform defends software applications from manipulation and attacks through the power of runtime intelligence. The company's core patented technology enables the ability to monitor applications and analyze real-time behavior and actual risks. Kodem was started by veterans of elite cybersecurity organizations. The founders have decades of combined experience in both offensive and defensive security research and a unique understanding of operating systems.
Source: Ronny Hassid