Proud to Announce: Miggo Secures Series A Funding to Transform Application Security

Today, I’m thrilled to announce that YL Ventures portfolio company, Miggo, has secured a $17M Series A funding round led by Syn Ventures, with YL Ventures participation! This remarkable achievement not only validates our early belief in Miggo’s vision but marks a pivotal moment in their journey to revolutionize Application Security through their groundbreaking Application Detection and Response (ADR) platform.

From day one, as Miggo’s seed investor, we recognized that Daniel and Itai were tackling cybersecurity’s most elusive blind spot – deep visibility into application runtime posture and active threats. Their Series A is a powerful testament to how security practitioners and enterprises have awakened to the critical importance of this space. The industry is buzzing, and for good reason – CISOs are absolutely blown away by what Miggo has accomplished.

For over two decades, web-based services and APIs have been the most significant data loss and exposure pathway. According to Verizon’s 2023 Data Breach Investigations Report, applications are the primary target of nearly 80% of data attacks. The alarming rise in devastating application breaches throughout 2023 – MOVEit, Microsoft SharePoint, Ivanti Gateway, and GoAnywhere – dramatically highlights how traditional security measures have failed to protect our most critical assets.

What makes Miggo truly unique is their inside-out methodology (the name “Miggo” fittingly means “from the inside out” in Aramaic). Under Daniel and Itai’s leadership, they’ve pioneered an approach that finally gives security teams the visibility they’ve desperately needed. By monitoring applications from within, Miggo detects the subtle deviations that indicate exploitation – something no perimeter defense could ever accomplish.

The team’s extraordinary expertise recently made waves across the security community with their discovery of “AL Beast” – a significant AWS configuration vulnerability affecting thousands of web applications. What made this discovery so impactful wasn’t just the technical finding itself, but how it exposed a fundamental blind spot in how organizations secure cloud applications. This discovery made it painfully clear that without application-level visibility, these types of vulnerabilities would continue to put critical data at risk despite massive investments in traditional security tools.

With this Series A funding, Miggo is redefining what’s possible in Application Security by giving customers unprecedented runtime visibility into attacks and laser-focused prioritization of actual vulnerabilities. As a 30-year security practitioner, CISO at several organizations and Miggo’s earliest champion, I couldn’t be more proud to continue supporting this exceptional team. Daniel, Itai, and their growing roster of world-class talent are transforming how organizations protect their most critical assets. Their breakthrough approach to addressing cybersecurity’s most persistent challenge is precisely what the industry has needed for over 20 years.

The future of application security has arrived – and it’s being led by Miggo!