Push Security, a British startup building technology to help defenders manage cloud software sprawl and shadow IT, has banked $4 million in early-stage venture capital funding.
The London-based firm said the $4 million seed round was led by Decibel, a Silicon Valley VC firm betting on cybersecurity and open source startups. Several prominent security executives, including Duo co-founder Jon Oberheide and Thinkst chief executive Haroon Meer, also invested in Push Security.
The company is building technology promising user-centric security for Saas (software-as-a-service) applications sprinkled throughout organizations.
“Most organizations have hundreds of SaaS apps in use in their environment and the majority of those apps are owned by employees rather than IT or security,” Push Security said in a note announcing the financing. These SaaS apps, the company argues, introduces risk to the business unless they are properly managed and secured.
The existing approach is to implement highly restrictive policies for non-approved SaaS apps but this inevitably leads to employees circumventing policies and introducing attack surface.
“The world of work is shifting in a big way,” said Adam Bateman, Push co-founder and CEO. “You can’t secure SaaS that’s owned by employees without working with employees.”
He said Push Security is working on a lightweight, scalable way to let employees use SaaS responsibly, guiding them to actually fix security issues, while offloading work from security teams.
The Push Security tool can be used to discover third-party integrations, tools, bots and other apps and discover which SaaS apps are in use and which employees are using them. It can also be used to discover malicious mail rule detection, manage automated MFA deployment, and discover when an employee account has been compromised.