Israeli cybersecurity startup Valence launches out of stealth with $7M in funding

Israeli cybersecurity startup Valence Security has launched out of stealth mode with an announcement today that it has raised $7 million in funding.

YL Ventures led the seed round. Also participating in the round were a number of security executives and serial entrepreneurs.

Founded by cybersecurity veterans Yoni Shohet and Shlomi Matichin, Valence is pitching itself as the first cybersecurity startup to bring zero-trust security principles to the “Business Application Mesh.”

Business Application Mesh is a mix of software-as-a-service and self-hosted business applications interconnected via application programming interfaces, SaaS markets and platforms such as Zapier Inc. and Workato Inc. The mix, according to Valence, creates a growing risk surface and a network of indiscriminate and shadow connectivity between applications, potentially leading to supply chain attacks, misconfigurations and data exposure.

The company noted that the growing number of third-party breaches highlights the inadequacy of current solutions in managing third-party risk. In one example, the Mimecast breach that involved the SolarWinds attack campaign saw attackers gain unauthorized access to Microsoft 365 tenants.

Valence claims that available solutions are limited and do little to increase trust or transparency in how organizations use third-party vendors.

The Valence platform delivers immediate, nonintrusive risk surface management, bringing Business Application Mesh connectivity out of the shadows, according to the company. The platform provides organizations with a visible map of their app-to-app integrations and spotlights risky third-party connections. Allowing security teams to be more preemptive regarding risks, the platform applies zero-trust principles and enables enforcement of policies, such as least privilege, significantly reducing the risk surface.

“Too much risk or too much restriction leaves security teams with no good path forward,” co-founder and Chief Executive Officer Shohet explained. “Our goal at Valence is to allow teams to understand and protect the Business Application Mesh risk surface from risky connections, activities and third-party access without inhibiting its ability to grow and deliver more business value.”

Despite only now coming out of stealth, Valence’s platform is already deployed at select global enterprises. The unnamed clients are said to have significantly reduced their risk surface with actionable insights.

Image: Valence Security