April 17, 2024 at 11:31AM
Tel Aviv-based startup Miggo Security raised $7.5 million in seed funding, led by YL Ventures and Cyber Club London. The company is introducing a new application detection and response (ADR) technology. Miggo’s ADR aims to address the biggest blind spot in corporate cybersecurity: internal operation of complex applications. The funding will be used to expand the R&D team and grow into the US market.
Based on the meeting notes, here are the key takeaways:
– Tel Aviv-based startup Miggo Security has raised $7.5 million in seed funding led by YL Ventures and including Cyber Club London to support the development and expansion of their new Application Detection and Response (ADR) technology.
– Miggo’s ADR technology is designed to address the significant blind spot in corporate cybersecurity related to the internal operation of complex applications. The technology aims to detect and respond to application attacks, which are often difficult to identify and are missed by existing security tools.
– Miggo’s ADR offers visibility into the internal chains of trust and the behavior of applications, providing the ability to detect and prevent malicious activities in real time. It generates a map showing application components, interactions, and chains of trust, identifying data flows and important services.
– The ADR functionality allows for both manual and automatic responses to detected threats within applications, with the goal of moving towards fully automatic ADR as trust in the product grows.
– CISO Mike Melo emphasizes that Miggo’s ADR is seen as a unified solution that provides application-layer visibility and control, lowering the mean time to detect and respond to application attacks.
– To further its development and expansion, Miggo plans to use the seed funding to expand its R&D team and establish a presence in the US market.
These takeaways capture the key points discussed in the meeting notes regarding Miggo Security’s seed funding, ADR technology, and its potential impact on the cybersecurity landscape.