OX Security Receives Strategic Investment from IBM Ventures to Supercharge Software Supply Chain Security

TEL AVIV, Israel, Aug. 15, 2023 /PRNewswire/ -- OX Security, the leading software supply chain security solution and founding member of the Open Software Supply Chain Attack Reference (OSC&R), announced today that it received an investment from IBM Ventures, the corporate venture capital arm of IBM. The investment represents the companies' intent to collaborate on expanding the frontiers of software supply chain security and create value for developers of cloud-native solutions.

OX, an Israeli startup established in 2021, is building the first holistic software supply chain security solution - going beyond the CI/CD or SDLC and providing visibility, automation and risk insights from Code-to-Cloud-to-Code. Through a combination of best practices from risk management and cybersecurity and a fantastic user experience, OX makes software supply chain security processes effortless for security teams to manage and easy for developers to adopt. Standardized to the OSC&R framework, OX also provides the continuity and cohesiveness that many security strategies are often lacking.

"This investment from IBM shows that OX's holistic security solution for today's modern software supply chains is the right solution at the right time," said Neatsun Ziv, Co-founder and CEO of OX Security. "We look forward to working closely with IBM and the team at Red Hat, helping their enterprise customers bake security into product development - ensuring the integrity of every software build, remediating critical risks quickly and releasing secure products with confidence."

"IBM has been contributing to open source ecosystems for over 20 years," said Professor Yaron Wolfsthal, Head of IBM's Security Center of Excellence in Israel. "With over 75% of applications consisting of open source code, it is critical that organizations be able to determine the trustworthiness of the dependencies, tools and infrastructure used in every project.  OX's holistic approach and its thought leadership in standardizing software supply chain risks represents our commitment to help organizations improve the security of the open source ecosystem," he continued.

"With IBM's investment in OX, we continue to emphasize the importance of software supply chain security as a key part of cloud-era application development," said Ben Daniels, Partner at IBM Ventures.

OX Security demonstrated the company's solution, running as a Red Hat OpenShift operator, this August at Black Hat 2023 in Las Vegas. OX Security and IBM say they will collaborate to help advance the successful adoption of DevSecOps practices. With this investment, IBM joins existing investors who participated in OX Security's $34M seed round announced in September 2022.

ABOUT OX SECURITY

At OX, we believe that security should be an integral part of the software development process, not an afterthought. Through a combination of best practices from risk management and cybersecurity and a fantastic user experience, OX makes software supply chain security processes continuous - from design to production - and easy for developers to adopt. Founded by Neatsun Ziv and Lior Arzi, who previously led Check Point's Security Division, OX provides security and engineering teams with the visibility, prioritization and automated remediation they need to bring security and integrity to every step of the software supply chain and release secure products on time. Visit www.ox.security for more information.

SOURCE Ox Security