- The investment was led by the venture capital arm of Alphabet Inc., GV. Decibel and other angel investors, like the co-founders of Duo Security Inc., the company which Cisco Systems Inc. acquired for USD 2.35 billion in 2018, joined in.
- A typical organization utilizes hundreds of SaaS apps to support its operations.
Push Security Ltd., a firm that assists businesses in securing their software-as-a-service applications, has raised USD 15 million to support its expansion.
Recently, the Series A round was announced. According to the firm, the investment was led by the venture capital arm of Alphabet Inc., GV. Decibel and other angel investors, like the co-founders of Duo Security Inc., the company which Cisco Systems Inc. acquired for USD 2.35 billion in 2018, joined in.
A typical organization utilizes hundreds of SaaS apps to support its operations. Employees frequently save critical company information in these applications, making them an attractive target for hackers. Push Security is trying to mitigate the threats caused by SaaS solutions used by workers of an organization.
The London-based business provides a platform that recognizes when employees sign up for a new cloud application automatically. According to the company, its platform produces an inventory of SaaS accounts for employees and examines them for unsafe settings. If a problem is detected, the platform prompts impacted workers to modify their account settings.
Adam Bateman, Chief Executive, stated, “The most sensible way we’ve found to scale SaaS security in an employee-adopted apps world is to put users at the center of helping to improve security. We prompt users at the right time to encourage them to take an action that will benefit an organization’s security, like updating their software or securing their user account.”
When employees sign up for a SaaS service with a weak password, the algorithms detect it. Additionally, the software recognizes instances where employees use the same login credentials for different services. Recycled passwords pose a cybersecurity concern since hackers may exploit them to compromise many apps simultaneously in the case of a breach.
Typically, employees use their Google Workspace or Microsoft 365 identities to sign up for SaaS apps. There is no chance of weak or repeated passwords in these instances. However, further cybersecurity concerns may surface.
Some SaaS programs cannot function without access to the user’s Google Workspace or Microsoft 365 account. Consequently, there is a danger that employees will expose critical corporate documents to a potentially harmful cloud service. The platform of Push Security can automatically detect perilous account access rights granted to SaaS apps, as well as dormant permissions that should be revoked since they are not in use.
A second set of the company’s platform’s capabilities focuses on identifying hacked email accounts. It identifies breaches by scanning for malicious mail rules, a form of inbox configuration that hackers may exploit by sending password reset emails to an external server.
Push Security released its platform in July of last year. Since then, it has acquired a user base of about 50,000 workers across “hundreds” of teams. Along the process, more than 480 SaaS application connectors were added by the startup’s platform.