Israeli cybersecurity startup Savvy which came out of stealth mode announcing a funding round of $30 million has developed a workforce security automation platform for the safe adoption and use of software applications.
The Tel Aviv-based startup has secured $30 million in Series A funding, led by early-stage venture capital firm Canaan, along with the participation of other investors including Cyberstarts, a venture capital fund that invests in early-stage cybersecurity startups, and California-based Lightspeed Venture Partners. Cyberstarts led the startup’s initial seed funding round together with Lightspeed.
Savvy was founded in 2021 by CEO Guy Guzner, CTO Yoav Horman, CPO Eldar Kleiner, and chief architect David Ben Zakai. Guzner previously co-founded Fireglass, an Israeli cybersecurity company acquired for $250 million in 2017 by Symantec.
Savvy’s platform is embedded directly into user work environments to help businesses secure against threats and vulnerabilities as they rapidly adopt and use a multitude of Software as a Service, or SaaS apps to fulfill their work tasks. Common examples of SaaS apps, which allow users to connect to it over the Internet, usually with a web browser, are email, calendaring, and office tools such as Microsoft Office 365, Hotmail, Yahoo! Mail, Salesforce or ChatGPT.
Businesses and organizations globally were using an average of about 130 SaaS apps in 2022, up 18% from the year before and compared with only 16 in 2017, according to an annual report by Bettercloud.
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Savvy’s platform discovers all the SaaS apps employees are using and monitors all action including app signup, generative AI que ..
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