Ox Security has secured $60 million in Series B funding to expand its artificial intelligence-enabled code security platform, as demand grows for tools that safeguard both human- and machine-generated software, reports TechCrunch.
The round was led by DTCP with participation from major investors like Microsoft, IBM Ventures, and Swisscom Ventures, bringing Ox's total funding to $94 million. Founded in 2021 by cybersecurity veterans Neatsun Ziv and Lior Arzi, Ox analyzes over 100 million lines of code daily for around 200 clients, including government agencies and Fortune 10 companies. CEO Ziv emphasized that while AI accelerates development, it also introduces subtle security risks that Ox's platform is designed to detect and resolve. With competitors like Snyk and Veracode in the space, Ox aims to use the new funding to scale rapidly and double its $10 million in annual recurring revenue by the end of the year. The company expects to achieve cash-flow positivity within two to three years as it positions for long-term growth.
The round was led by DTCP with participation from major investors like Microsoft, IBM Ventures, and Swisscom Ventures, bringing Ox's total funding to $94 million. Founded in 2021 by cybersecurity veterans Neatsun Ziv and Lior Arzi, Ox analyzes over 100 million lines of code daily for around 200 clients, including government agencies and Fortune 10 companies. CEO Ziv emphasized that while AI accelerates development, it also introduces subtle security risks that Ox's platform is designed to detect and resolve. With competitors like Snyk and Veracode in the space, Ox aims to use the new funding to scale rapidly and double its $10 million in annual recurring revenue by the end of the year. The company expects to achieve cash-flow positivity within two to three years as it positions for long-term growth.
