Our Investment in NeuraLegion — an application security platform for web apps and APIs
In today’s modern application development process, organizations are looking for ways to automate whatever they can. Using many microservices and APIs enables companies to develop faster but at the same time, the structure of the application becomes complicated and introduces new types of vulnerabilities resulting in the need to ensure the security of the system at a whole new level. That is why the Application Security Testing market is growing at 15% CAGR and is expected to hit $11 Billions by 2024.
One of the biggest trends in the cyber security we, at DNX, are excited about is the “Enabling Developers” trend. The existing tools that sit on top of poorly designed applications produce too many false positives that make developers waste hours of their precious time trying to understand which vulnerabilities are real. We believe that in the next 10 years, application security tools that will enable developers, application security specialists and QA professionals to secure applications in the early stage of the Software Development Life Cycle (SDLC) will be a boon to any organizations in today’s CI/CD environment.
NeuraLegion does exactly that. NeuraLegion is an early-stage startup that develops an application security platform for web apps and APIs. The four founders, Shoham Cohen, Bar Hofesh, Art Linkov, and Gadi Bashvitz realized that the new trend of application development drives the responsibility of application security towards software developers, and built the company to empower software developers with automation tools to detect issues and quickly obviate them. The company has been achieving more than 100% QoQ growth over the past six quarters and this number demonstrates the demand for this solution in the market.
We are thrilled to join the journey of these four fantastic cybersecurity and software experts by leading their $4.7M Seed round joined by Fusion Fund, Incubate Fund and J-Ventures.