May 25, 2022

As companies increasingly rely on more and more SaaS products, it has become necessary for security teams to better understand what applications company employees are actually using and the risks associated with them. Therefore, it is not surprising that we are also seeing an increase in the number of SaaS security solutions. Wing Security, which launches incognito today and announces a $20 million Series A funding round, aims to provide a comprehensive, end-to-end SaaS security platform that enables businesses to discover, monitor and, if necessary, can help identify potential security vulnerabilities . – Automatically fix how their employees use any of the 100,000+ SaaS tools.

The Series A round was led by GGV Capital, while a previously undisclosed $6 million seed round was led by S-Capital. Several angels including Harmony Partners, Silicon Valley CISO Investment Group and Michael Shallow, CEO and co-founder of Fireblocks, Orca. Security Co-founders Avi Shua and Gil Heron, formerly Kenna Security CEO Karim Tubba and Clarotti co-founder Galina Antova also took part.

One thing Wing immediately notices is the founding team. Led by Retired Brigadier General Noam Shar, former Israel Defense Forces (IDF) Information Security Chief, and Retired Colonel Galit Lubitsky, former IDF Cyber ​​Operations Chief, more experienced staff will be hard to find. The number of founders even in the Israeli security startup ecosystem is highly dependent on the IDF 8200 unit. It is also the leadership experience that set the founders on this path to launching Wing.

“We understand that people need a comprehensive solution—comprehensive. They don’t need a solution to work with unknown applications, but a solution to securely launch and use Slack, Shar said. “As the former CIO of the largest and most complex organization in Israel, I wanted my security products to work, be easy to use, and provide protection. Don’t say, “Oh, did you have this incident? It’s because we don’t cover it.” Then you have too many different solutions that you try to integrate with each other and it never works. ,

Wing then provides a platform that can discover all the SaaS services used in a company without having to install agents on users’ devices. To do this, the service integrates with some of the main SaaS applications used in a given company (for example, Slack, Salesforce, Zoom, etc.), and then analyzes the activities occurring there and connections to these applications. It’s not easy, but it’s relatively simple and comparable to what some other vendors are doing in this area. However, Wing also integrates with endpoint security solutions to regularly probe those endpoints and collect telemetry about the SaaS applications employees use on those machines.

“Combining these two approaches is the only way to create the complete picture,” explains Sharr, who also indicated that the team is looking for a solution that will work without these existing endpoint management services.

It’s worth noting that the Wing team emphasized that the service only looks at metadata. It also does not view the contents of employee mailboxes.

In terms of remediation, Wing not only finds rejected apps, but also potential configuration issues with approved SaaS services that could lead to security vulnerabilities. However, warning about potential security vulnerabilities is not enough, say the company and its investors.

“When security professionals see another device that gives them a warning, they ask: “So what? What should I do with these warnings? I’ve got indefinite warnings from here. I think this Wing platform approach is really unique. They come and say: “We don’t stop there, we will solve this problem for you,” said GGV’s Oren Junger.

In practice, this means that Wing provides a tutorial for solving common problems, as well as some automated tools for solving recurring problems.

“WingThe shared platform will take care of all your SaaS security needs. It identifies all SaaS applications, prioritizes risk, and automates processing,” said Philip Martin of Coinbase, a spokesman for Silicon Valley CISO Investments Group. Use SaaS tools instead of performance barriers.”

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