The trio founded LogMeIn, a company that revolutionized the way developers secured software by providing a platform that enables them to focus on writing code, not on configuring server permissions. The companys flagship product isLogMeIn Ignition, an integrated platform that streamlines the process of authentication and authorization.
The startup Otterize today announced it has raised $11.5 million in a seed funding round led by Index Ventures with participation from Dig Ventures and Vine Ventures, Jibe Ventures, Crew Capital and Operator Partners. With this investment, the company aims to make connecting different software services easy and secure by automatically configuring existing security controls.
Otterize will make developers’ code much more secure by clearly revealing all the calls their applications intend to make. This will allow developers to better manage and monitor their code and avoid potential security vulnerabilities.
The access graph in Otterize not only reveals which services are being called, but also the specific certificates that are being used. This information can be invaluable for both security researchers and corporate defenders, as it allows them to quickly assess vulnerabilities and map out every interaction between different services. For example, if a company suspects that its internal servers are being attacked from the internet—perhaps by hackers who are using stolen certificates—Otterize would allow the company to see which certificates have been issued to those servers and where they were obtained. This could then help them determine who might have possessed those certificates previously or whether they’ve been compromised in any way since they were issued.
Given that Otterize is a solution built specifically for developers, embedding it in their development process makes sense. Otterize Cloud, on the other hand, provides a fully managed experience with support for automation and ongoing optimization. This could be a good option for companies that need a more robust solution than what Otterize offers on its own.
As mentioned, most access control mechanisms require someone to keep track of what services should be allowed to access another service, data source or API. Otterize eliminates this need by automating the process of authentication and authorization. This allows developers to focus on their code instead of having to worry about security.
Some observers in the San Francisco Bay Area are concerned that Otterize, a startup that offers a free platform for connecting with sustainable seafood businesses, may be struggling due to the slowdown in tech and other headwinds. In an interview, CEO Glenn Greenwald told us that his company’s focus on responsible growth and product-market fit will help them weather these challenges.
As the Verge pointed out in a recent article, Otterize is one of a few companies that have been able to capitalize on the increased spending on cybersecurity. Their products are specifically designed to make it easier for businesses to protect themselves from cybercrime, and they enjoyed high ratings from analysts in both the short and long term.
Organizations are investing more money in cybersecurity to protect their data and systems from potential attack. This increasing spending is likely due to the explosive growth of cyberattacks over the past couple of years and steady increase in security risks across all industries.
Greenwald is advocating for a measured approach to growth, which will allow the company to provide value to its customers and build a sustainable business. By automating access controls, Otterize is paving the way for a more secure ecosystem of services that utilizes least privilege principles.
