Ox Security Secures $60M Funding Boost to Enhance Vulnerability Scanning in Code
As the trend of vibe coding continues to gain momentum, tech companies are encouraging developers to integrate generative AI tools into their workflows. In this evolving landscape, Ox Security, a platform dedicated to identifying vulnerabilities in AI-generated code, has successfully secured a new round of funding to enhance its capabilities.
Ox Security Secures $60 Million in Series B Funding
On Wednesday, Ox Security announced the completion of a $60 million Series B funding round, spearheaded by DTCP. This round also saw participation from major players like IBM Ventures, Microsoft, Swisscom Ventures, Evolution Equity Partners, and Team8. With this latest funding, Ox has raised a total of $94 million since its inception.
Founders and Company Background
Founded in 2021 by Neatsun Ziv and Lior Arzi, Ox Security operates out of New York and Tel Aviv. Both founders are seasoned software and IT engineers, having collaborated at Check Point on the company’s threat prevention product lines.
Innovative Solutions for Code Security
Ox Security offers a platform designed for both security teams and developers, providing essential tools to scan applications for vulnerabilities and secure the broader supply chain. The platform can:
- Model threats from both AI- and human-generated code
- Recommend fixes during code reviews
- Generate executive reports detailing breaches and their potential causes
“Over the past year, AI has significantly transformed software development,” stated Ziv in an interview with TechCrunch. “While these tools accelerate development for both experienced developers and beginners, they often lack the critical thinking and judgment needed to catch subtle security flaws.” He emphasized that Ox’s platform allows developers to focus on innovation while enhancing overall security.
Customer Base and Daily Operations
According to Ziv, Ox Security is currently analyzing over 100 million lines of code daily for approximately 200 clients, which include notable companies like eToro, SoFi, and its investors, Microsoft and IBM. The diverse customer base ranges from Fortune 10 companies to small and medium-sized businesses, as well as military and government entities.
Plans for Growth and Market Competition
With the newly acquired capital, Ox Security aims to accelerate its growth and expand its market presence amidst competition from established players such as Snyk, Veracode, Synopsis, and Checkmarx. The company is currently generating around $10 million in annual recurring revenue, a figure Ziv anticipates will double by year-end. He also expressed plans for the company to become cash-flow positive within the next 2-3 years.
“We want to position ourselves for long-term success,” Ziv concluded. “With significant revenue growth and the opportunity to leap forward, we felt it was the right time for this strategic step.”
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