Cisco Venture Capital Arm Sparks AppOmni’s SaaS Application Security Expansion
AppOmni, a provider of software-as-a-service (SaaS) security, has received funding from Cisco Investments to propel product development and accelerate its market strategy.
AppOmni is expanding its security capabilities to cover additional SaaS security applications, including Snowflake, HubSpot, Cisco’s Duo Security and Veeva, the company said in a prepared statement.
The company is demonstrating its new products at Black Hat USA 2022, August 6-11, in Las Vegas.
Janey Hoe, Cisco Investments vice president, explained the thinking behind the partnership with AppOmni:
“Customers have increasing requirements for in-app protection, continuous monitoring, and security controls in SaaS environments. In addition to identifying and mapping SaaS apps in an enterprise environment, AppOmni’s platform delivers an innovative approach for continuous trusted access throughout SaaS sessions.”
Protecting 82 Million Users
AppOmni notes that it delivers centralized visibility, data access management and security controls for any app — including Box, GitHub, Google Workspace, Jira, Microsoft 365, Salesforce, ServiceNow, Slack, Workday and Zoom. AppOmni protects more than 82 million users across a broad range of SaaS platforms, and has secured more than 260 million exposed data records, the company said.
Additionally, AppOmni’s SaaS security management software provides cost savings by speeding up development processes. It also enables security and IT teams to secure more of their tech stacks with fewer resources, the company said.
The AppOmni Developer Platform platform enables universal coverage for any SaaS application or custom application, and is currently in use by both customers and MSP partners.
Harold Byun, AppOmni chief product officer, described the advantages of the Developer Platform:
“The Developer Platform is addressing the market demand for a comprehensive security control layer for any application, either SaaS or custom. We have customers who have rapidly built support for custom apps on the platform, as well as multiple systems integrators adopting the AppOmni Developer Platform, to support enterprise applications and SaaS platforms for their customers.”
SaaS Application Security a Growing Market
In addition to App Omni, SaaS Alerts and Augmentt promote SaaS application security and management to MSPs. The latest Augmentt move involves a Free Community Software Program to help MSPs and IT professionals manage and secure their SaaS and cloud applications.
Venture capitalists and private equity firms are pumping money into the market. Recent examples include:
- June 2022: Private equity firm Vista Equity Partners invested in BetterCloud, a cloud-based management platform for SaaS applications.
- June 2022: Private equity firm Thoma Bravo has invested in AppOmni, a SaaS security management and posture solutions company. The Series C funding round, which included Salesforce’s venture capital arm, raised $70 million.
- April 2022: DoControl raised $30 million to automate SaaS security.
- February 2022: Torii raised $50 million in Series B funding.
- December 2021: Grip Security raised $19 million in Series A funding.
- October 2021: Adaptive Shield raised $30 million in Series A funding.