SaaS security platform co AppInside raises $2.3m

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Company headquarters will be moved to Boston although AppInside's development center will remain in Tel Aviv.

Israeli startup AppInside, which has developed a SaaS platform for identification and resolution of security vulnerabilities in mobile apps, has closed $2.3 million in seed funding from Accomplice and angel investors. AppInside scans mobile apps to detect security vulnerabilities and identify cloned versions of apps to protect both the owners of those apps and their users.

The service is easy-to-use, does not require integration or access to source code, and provides recommendations for resolution. AppInsides new funding will be used to further develop and commercialize the platform. Company headquarters will be moved to Boston although AppInside's development center will remain in Tel Aviv.

AppInside cofounder and CEO Elon Ohevya said, Mobile applications are at the highest risk of exploitation, leaving both mobile app developers and their users vulnerable to data breaches and other malicious activity. For the most part, the app owners are unaware of their exposure to these threats."

Mobile app downloads have risen to 26 billion this year; and Gartner has reported that 75% of mobile applications will fail basic security tests. AppInsides SaaS security platform runs advanced learning algorithms against an apps run-time behavior in a simulated hacking environment. It provides an initial assessment of risks, as well as ongoing scanning and alerts, for the most up-to-date protection against new vulnerabilities and potential threats. The platform provides reports immediately, with a ranking level of each risks severity, and guidelines for fixing security vulnerabilities. In addition, AppInside can detect cloned applications and provide the rightful owner with the conclusive evidence needed to protect their intellectual property.

Accomplice partner Jeff Fagnan said, AppInside is based on world-class security research and the practical application of offensive hacking techniques. The mobile device is becoming the next target for hackers. AppInside has the right technology and the right team to prevent exploitation. AppInside was founded by veterans of the security industry and top cyber security operatives from the Israeli Defense Forces (IDF) and Check Point Software Technologies Ltd. (Nasdaq: CHKP). The company was selected as one of ten startups to participate in the inaugural TechStars Berlin program which is currently underway.

Published by Globes [online], Israel business news - - on August 23, 2015

Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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