Supply chain security startup OX Security receives strategic investment from IBM Ventures
Supply chain security startup OX Security receives strategic investment from IBM Ventures
The companies did not disclose the size of the investment, but it is estimated at between $5-10 million
OX Security, which develops software supply chain security solutions, announced on Tuesday that it has received an investment from IBM. The companies did not disclose the size of the investment, but it is estimated at between $5-10 million.
OX, an Israeli startup founded in 2021 by Neatsun Ziv and Lior Arzi, who previously led Check Point’s Security Division, is building a software supply chain security solution that aims to provide visibility, automation and risk insights from Code-to-Cloud-to-Code. Its solution is standardized to the Open Software Supply Chain Attack Reference (OSC&R) framework, of which it is a founding member.
“This investment from IBM is proof that OX’s holistic security solution for today’s modern software supply chains is the right solution at the right time,” said Neatsun Ziv, Co-founder and CEO of OX Security. “We look forward to working closely with IBM and the team at Red Hat, helping their enterprise customers bake security into product development - ensuring the integrity of every software build, remediating critical risks quickly and releasing secure products with confidence.”
With this investment, IBM, the parent company of Red Hat, a provider of enterprise open source solutions, joins existing investors who participated in OX Security’s $34 million Seed round announced in September 2021. OX Security and IBM say they will collaborate to help advance the successful adoption of DevSecOps practices.
“IBM has been contributing to open source ecosystems for over 20 years,” said Professor Yaron Wolfsthal, Head of IBM’s Security Center of Excellence in Israel. “With over 75% of applications consisting of open source code, it is critical that organizations be able to determine the trustworthiness of the dependencies, tools and infrastructure used in every project. OX’s holistic approach and its thought leadership in standardizing software supply chain risks represents our commitment to help organizations improve the security of the open source ecosystem.”
