Adaptive Shield Raises $30M Series A for SaaS Security

Adaptive Shield Secures $30 Million in Series A Funding

Adaptive Shield, a startup headquartered in Tel Aviv specializing in the automated security of software-as-a-service (SaaS) applications, has successfully raised $30 million in Series A funding. The investment was spearheaded by Insight Partners.

This funding round included contributions from Okta Ventures and existing investor Vertex Ventures Israel. It follows a prior $4 million seed round completed in 2019. The company intends to utilize these new funds to accelerate its growth trajectory.

Focus on Product Innovation and Expansion

Specifically, Adaptive Shield will prioritize product innovation and global expansion initiatives. Resources will also be allocated to strengthening its research and development, customer success, and sales divisions.

Adaptive Shield already serves a clientele that includes companies listed within the Fortune 500. The company’s core mission is to eliminate expensive data breaches stemming from security configuration errors within SaaS applications.

Addressing a Critical Security Gap

These configuration errors represent the second-leading cause of data breaches, according to the startup. They can expose organizations to risks such as corporate espionage, ransomware attacks, and the unauthorized disclosure of cloud data.

Many security firms concentrate on cloud security posture management (CSPM) tools targeting the infrastructure layer. However, Adaptive Shield distinguishes itself by focusing on the cloud application layer.

Introducing SaaS Security Posture Management (SSPM)

The company’s SaaS Security Posture Management (SSPM) platform identifies and rectifies misconfigurations across all global settings and user privileges within SaaS platforms. This provides a comprehensive security approach.

“Relying on security teams to manage SaaS security misconfigurations without an SSPM solution is akin to assigning a bodyguard to someone who cannot be seen,” stated Maor Bin, co-founder and CEO of Adaptive Shield.

Bin, formerly the head of cloud research at Proofpoint, emphasized that maintaining deep visibility and continuous security hygiene within SaaS environments is paramount for organizational security.

Platform Capabilities and Future Growth

Currently, the platform supports over 50 SaaS applications, including popular tools like GitHub, Office 365, Salesforce, Slack, and Zoom.

Adaptive Shield plans to broaden its support to encompass 150-200 applications by the close of 2022. This expansion will further solidify its position in the market.

“Considering the average organization utilizes 80 SaaS applications, our extensive application support represents a significant competitive advantage,” the company asserts.