Valence Security, a Tel Aviv, Israel-based SaaS security remediation solution, announced that it raised $25 million in Series A funding, bringing Valence’s total funding to $32 million.
Microsoft’s M12 venture fund led the round with participation from seed investor YL Ventures and additional investors, including Porsche Ventures, Akamai Technologies, Alumni Ventures, and Michael Fey, CEO of Island and former president of Symantec.
The new funding will help Valence to accelerate its operations, scale its R&D efforts, and increase its headcount in the US and Israel.
“We initially launched Valence to address the critical need we saw to harden organizations against the growing risks of SaaS supply chain attacks in a way that takes into account business context and doesn’t impede the velocity of SaaS adoption and usage,” says Yoni Shohet, CEO, and co-founder of Valence. “With the continuous surge in additional SaaS security breaches in 2021, accelerating into 2022 with attacks on inherently secure services such as Okta, Google, and GitHub, our commitment to building the first collaborative, automated remediation platform has paid off. Customer response has been overwhelmingly positive, and demand for our solution has been strong. As we have expanded our vision to include collaborating with end users to remediate other SaaS risks, such as external data sharing and user identities managed outside of the organization’s IdP, our value to our customers as their go-to SaaS security solution has only continued to grow.”
Valence engages business users to ensure that security decisions are made within the context of business needs and that end users work with and see security teams and processes as business enablers, not impediments.
Valence empowers security teams to prioritize SaaS security, configuration, and compliance risks and enables automated and decentralized remediation workflows across the distributed organization.
Company: Valence Security, Inc.
Round: Series A
Funding Month: October 2022
Lead Investors: Microsoft’s M12 venture fund
Additional Investors: YL Ventures, Porsche Ventures, Akamai Technologies, Alumni Ventures, and Michael Fey
Company Website: https://www.valencesecurity.com/
Software Category: Collaborative SaaS Security Remediation
About the Company: Founded in 2021 by Yoni Shohet and Shlomi Matichin, Valence Security is the first security company to offer collaborative remediation workflows that engage with business users to contextualize and reduce SaaS data sharing, supply chain, identity, and misconfiguration risks with scalable policy enforcement and automated workflows. With Valence, security teams can secure their critical SaaS applications like Microsoft 365, Google Workspace, Salesforce, and Slack and ensure continuous compliance with internal policies, industry standards, and regulations without impeding business productivity or the speed of SaaS adoption.