Astrix Security raises $25M to secure app-to-app connections

Astrix Security, a leading cybersecurity firm, has raised $25 million in Series A funding, led by CRV and with participation from existing investors, Bessemer Venture Partners and F2 Venture Capital. This recent investment has increased Astrix's total funding to nearly $40 million.

A response to growing cyberthreats on app-to-app connections

In the current landscape, the widespread adoption of automation solutions and initiatives based on generative artificial intelligence is increasing the connectivity of enterprises with third-party applications. This has led to an increase in cyberattacks targeting non-human connections between applications, as evidenced by recent high-profile attacks against CircleCI, Mailchimp, GitHub, Microsoft and Slack.

Exponential growth and recognition for Astrix despite the financial instability of the market

Despite the financial instability of the market, Astrix is experiencing exponential growth year over year, establishing itself as a leader in defending this growing threat. The firm recently added firms such as Figma, Priceline, Bloomreach, Rapyd and many more to its client roster, and was recognized as a finalist in the RSA Innovation Sandbox 2023 competition. The firm has doubled its headcount and will use this funding to continue to expand the team in the US and Tel Aviv offices, including the research team that recently discovered GhostToken, a critical vulnerability in the Google Cloud Platform.

Astrix aims to close an unresolved security gap and investor comments

“Our goal with founding Astrix was to fill an important, as yet unaddressed security gap by enabling security teams to extend access management and threat detection to the non-human identity layer,” said Alon Jackson, CEO of Astrix. “It is amazing to see the tremendous adoption by security teams and how Astrix capabilities have become essential to their day-to-day defense. We look forward to continuing to expand our capabilities and partnerships, enabling organizations to take full advantage of the services from third parties, especially Gen-AI apps, without compromising security,” added Jackson. Investors expressed their excitement about Astrix's progress and the importance of their role in the cybersecurity industry.