CYBERSECURITY STARTUP VERITI EMERGES FROM STEALTH, ANNOUNCES OVER $18 MILLION IN FUNDING

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Nov 08, 2022, 08:00 ET

TEL AVIV, Israel, Nov. 8, 2022 /PRNewswire/ -- Veriti, a fast-growing security infrastructure innovator, today emerged from stealth with $18.5 million in total funding. The funding consists of a $12 million round led by global software investor Insight Partners, which followed a $6.5 million round led by NFX and AMITI. The new funding will help the company scale to meet its growing customer base and further enhance its Unified Security Posture Management platform functionality.

Founded in 2021 by unit 8200 veterans and ex-Check Point executives Adi Ikan, CEO, and Oren Koren, CPO, Veriti amplifies security teams' efforts to reduce risk and maximize their organization's security posture. To do this, Veriti provides a consolidated security platform that proactively and continually identifies and remediates security gaps and misconfigurations across the entire infrastructure while ensuring business uptime.

Veriti's Solution

Cybersecurity is broken. Too many disparate, nonintegrated solutions deployed in every organization create murky visibility into the security infrastructure and introduce inherent management complexities and inadvertent security gaps. These gaps are the main drivers of security breaches, such as the notable case of Equifax.

To develop its solution, Veriti conducted extensive research and listened to hundreds of CISOs and IT directors from a wide array of industries talk about the challenges of maintaining their security posture. The end product is a cutting-edge security platform that provides holistic visibility, proactive monitoring, and contextual, actionable insights. Veriti's unique platform integrates with the entire security stack and consistently evaluates the organization's risk posture by analyzing security configurations, logs, sensor telemetries, and threat intelligence feeds.

"The premise that security professionals are doomed to struggle with complexity and operational inefficiency to secure the enterprise is false," said Adi Ikan, CEO, and co-founder of Veriti. "We have a well-versed team focused on creating a streamlined, frictionless management experience for all security teams to reduce effort and time spent in manual oversight. Insight Partners, NFX, Amiti, and Merlin Ventures all have vast resources and experience in cybersecurity, and we are extremely excited to be working with them as we continue to redefine security posture management on a larger scale."

Unlike any other security management platform available today, Veriti takes a holistic approach to both the security infrastructure and the IT organization to maximize security and the ROI of every deployed solution. The platform helps IT organizations understand the status of their cybersecurity investment, how and which business applications are being impacted by security solutions, and how to improve both with effective automation and machine learning.

"We believe organizations deserve to manage their overall security posture free of pain points, frustrations, and with better efficacy," said Oren Koren, CPO, and co-founder. "Leveraging our vast knowledge and expertise in both cyber-offense and defense, we have created a unique security-posture management platform that helps security teams bridge the knowledge gap between their current posture and the one they can achieve while minimizing adverse impacts to business applications and the user experience."

The Investment

"Veriti has listened to the CISO community's concerns around tool fatigue and created a game-changing platform that consolidates security controls into one unified console. This unique cross-team collaboration platform makes it easier for all security teams to take part in reducing risk and improving their organizations' overall posture," said Stephen Ward, Managing Director at Insight Partners and former CISO at The Home Depot and TIAA. "It is rare to see a security technology that directly tackles the most acute cyber challenges the way Veriti does."

"When I first met Adi and Oren, I was impressed with their passion, strong technical experience, and deep understanding of their domain," said Gigi Levy-Weiss, Founding Partner, NFX. "Veriti's revolutionary approach solves the top infrastructure and security operations problems every enterprise has suffered for many years. With its robust product offerings and the amount of traction this solution gets, the opportunity is massive, and we are excited to partner with the team as they continue to grow and scale up."

About Veriti

Veriti is a fast-growing security infrastructure innovator that helps organizations maximize their security posture while ensuring business uptime. Integrated with the entire security stack, Veriti provides a consolidated management layer that continually and proactively monitors exposure to threats and provides actionable remediation paths for security gaps and high-risk vulnerabilities across the organization's infrastructure and attack surface. Veriti is backed by Insight Partners, NFX, AMITI, and Merlin Ventures. For more information, visit veriti.ai and follow us on LinkedIn and Twitter.

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2022, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 700 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

SOURCE Veriti