Israeli startup Savvy has emerged from stealth mode with $30 million in funding to address security incidents related to software-as-a-service (SaaS) applications. The funds were raised in two investment rounds: $10 million in seed funding in 2021 and $20 million in a Series A funding round led by Canaan, with participation from previous investors Cyberstarts and Lightspeed.
At the same time, the Tel Aviv-based company aims to tackle the challenges arising from the increased adoption of SaaS applications within enterprises by providing just-in-time security guardrails in the user workspace.
Furthermore, Savvy’s Workforce Security Automation platform offers visibility and security automation for SaaS incident response, aiming to eliminate human error through real-time alerts and guidance.
By embedding the platform directly into the user work environment, Savvy aims to prevent unsafe use of generative AI, data leaks, and supply chain risks through SaaS integrations. The platform also provides security teams with real-time actionable insights, including visibility into applications that are not connected to single sign-on (SSO) and sign-ins using compromised credentials.
Additionally, Savvy’s successful funding rounds and its innovative approach to SaaS security position the company to make a significant impact in the market. As enterprises continue to rely on SaaS applications for critical business operations, the need for robust security solutions becomes paramount.
Savvy’s Workforce Security Automation platform offers a promising solution to address the security challenges posed by SaaS applications, providing organizations with the means to protect sensitive data and mitigate potential risks.