Ox Security, an Israeli startup in the application security space, has landed a $60 million Series B round led by Deutsche Telekom’s venture arm DTCP.
The company, which has offices in New York, said the round included follow-on cash from IBM Ventures, Microsoft, Swisscom Ventures, Evolution Equity Partners and seed backer Team8.
Ox Security has raised a total $94 million since its launch in 2021 with ambitious plans to cash in on two fast-moving trends: a surge of AI-generated code and longstanding alert fatigue in the AppSec space.
The company and its investors are betting big that security teams will spend heavily to replace traditional code scanners that swamp developers with thousands of low-value findings.
Ox Security’s pitch is to model exploitability and reachability across both AI- and human-written code and surface only the few issues likely to matter in production.
The early stage startup said it crossed $10 million in annual sales and more than tripled its customer roster over the past 12 months, counting Microsoft, IBM, eToro and SoFi among 200 paying organisations.
The company’s founders, former Check Point alums Neatsun Ziv and Lior Arzi, raised a $34 million seed round in 2022 on the back of their “pipeline bill of materials” concept for mapping software-supply-chain risk.
The company said the new capital will fund product R&D and international expansion.
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