Israeli cybersecurity company OLIGO Security has raised an additional $60 million following a year in which its annual recurring revenue grew 300%, bringing its total funding to $140 million.
The company said the round included investments from Ballistic Ventures, Canon Capital, Greenfield Partners, Lightspeed Venture Partners, Red Dot Capital and TLV Partners. Angel investors also participated, including Mellanox Technologies co-founder Eyal Waldman, whose company was acquired by NVIDIA for $6.9 billion.
OLIGO founders, from right: Gal Elbaz, Nadav Czerninski and Avshalom Hilo
(Photo: OLIGO)
OLIGO develops technology designed to identify and block cyberattacks while software is running, rather than relying solely on vulnerability scans and preventive controls deployed before an application enters production.
“AI has fundamentally changed the economics of exploitation,” OLIGO co-founder and CEO Nadav Czerninski said.
“When attackers can find vulnerabilities and build exploits at machine speed, runtime becomes the only place you can definitively understand true risk and stop attacks without impacting production,” he added.
Czerninski said investors were increasing their commitments because they believe runtime protection will play a central role in the next generation of cybersecurity products.
OLIGO said its valuation has more than doubled since its Series B funding round. The company did not disclose its current valuation.
The funding announcement follows several recent developments at the company, including its selection as the exclusive AI runtime security partner for AWS Security Hub Extended.
OLIGO also joined Palantir’s FedStart program, which helps technology companies pursue authorization to work with sensitive U.S. government systems. The company said the program would accelerate its efforts to secure FedRAMP High and U.S. Defense Department Impact Level 5 authorization.
It also launched Runtime Exploit Blocking, a product intended to detect and stop attempted exploits at the application layer as they occur.
The company said the new funding would be used to accelerate product development, expand its global sales operations and advance technology designed to block both zero-day exploits, which target previously unknown vulnerabilities, and n-day attacks that exploit known security flaws.
OLIGO’s platform operates across applications, cloud workloads and artificial intelligence systems. It monitors code execution inside production environments to determine which vulnerabilities are actually exploitable and to identify malicious behavior in real time.
The company says this approach allows organizations to block attacks without shutting down applications or interfering with normal operations. It can also provide temporary protection between software updates through virtual patching, reducing the urgency of immediately deploying a permanent patch.
“In the post-Mythos era, runtime simply has to be the source of truth for modern cybersecurity programs,” said Brad Arkin, a cybersecurity adviser and former chief trust officer at Salesforce.
“It’s the one place where security teams can accurately determine what’s truly exploitable and where they can apply compensating controls to stop exploit attempts in real time,” he said.
Jake Seid, a partner at Ballistic Ventures, said protecting runtime environments was particularly important because they are where companies generate revenue and interact with customers.
“OLIGO has solved one of security’s hardest problems by protecting production environments without forcing organizations to choose between security and uptime,” Seid said.
He added that OLIGO’s technology, growing customer base and position in the emerging runtime security market led Ballistic Ventures to increase its investment in the company.
