The funding frenzy in the software supply chain space now includes Ox Security, an early-stage Israeli startup that just raised a whopping $34 million in seed-stage financing.

Ox Security, based in Tel Aviv, announced Wednesday that the $34 million funding round was led by Evolution Equity Partners, Team8, and M12, Microsoft’s venture fund. Investors at Rain Capital also participated. 

The brainchild of former Check Point executives, Ox Security is promising to extend the SBOM (software bill of materials) concept down through the pipelines that connect and distribute code for critical software products.

Ox Security is pushing the idea of PBOMs (pipeline bill of materials) that includes the traditional SBOM components but also covers the procedures and processes that impacted the software throughout its development.

[ READ: Cybersecurity Leaders Scramble to Decipher SBOM Mandate ]

The company claims its product is already used by more than 30 companies to secure their software supply chains, including Kaltura, Marqeta and Bloomreach.

The plan is for the product to integrate with existing tools and infrastructure to monitor and record every action affecting software throughout the entire development lifecycle, giving security and DevOps teams visibility and control over the attack surface, including source code, pipeline, artifacts, container images, runtime assets, and applications. 

Ox Security isn’t the only early-stage software supply chain company making a big funding splash. 

Earlier this year, Chainguard bagged a massive $50 million Series A just a few months after raising $5 million in seed funding. Chainguard was created by Dan Lorenc and Kim Lewandowski and the team that worked on Google’s major supply chain security initiatives -- Sigstore and SLSA. 

Aqua Security ($265 million raised), Legit Security ($34 million raised), ReversingLabs ($81 million raised, Tidelift ($27 million funding) are also among the well-funded software supply chain startups.

By Ryan Naraine on Thu, 29 Sep 2022 15:54:14 +0000
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