US cybersecurity company Crowdstrike Holdings (Nasdaq: CRWD) has announced that it is acquiring Israeli cloud security posture management platform Bionic.ai. No financial details were disclosed but sources told "TechCrunch" that Crowdstrike will be paying up to $350 million for the Israeli company.
Founded in March 2019 by CEO Idan Ninyo and CTO Eyal Mamo, the company has raised $82 million to date according to Start-Up Nation Central. Its most recent financing round was in March 2022, when it raised $65 million led by Insight Partners with participation from Battery Ventures and Cyberstarts.
Bionic.ai has developed an application security posture management platform that helps IT, operations, and security teams at global financial services and technology companies operate and protect applications more efficiently. The company assists dozens of customers such as GSK, Armis, Chipotle, Freddie Mac, and Inspire Brands in accelerating their digital transformation projects and de-risking their application security posture. Bionic provides organizations with complete visibility and continuous monitoring of their applications, services, and APIs while detailing data flows, and attack surfaces.
Ninyo said, "Bionic was founded on the core premise that when it comes to application risk, you can’t protect what you can’t see. We have built a ‘Google Maps for your Apps’, delivering a complete picture of application security risk in a truly frictionless way that does not interfere with the development process. CrowdStrike has taken the mantle as the modern cybersecurity platform of choice and the company to beat in the cloud security market. Its strength and scale as a market leader and innovator will help us dramatically accelerate the adoption of ASPM by every business and organization on the planet."
Crowdstrike cofounder and CEO George Kurtz said, "The cloud is cybersecurity’s new battleground, yet the industry’s answer to-date has been disjointed point security tools or ‘platforms’ with multiple consoles and agents. We are delivering what customers need: modern protection to address cloud security risk comprehensively, through one unified platform. We pioneered cybersecurity for the cloud era, and the addition of Bionic further extends our cloud security leadership on our mission of stopping breaches. Bionic shares our passion for customer-focused innovation and will make a great addition to the CrowdStrike team."
Published by Globes, Israel business news - en.globes.co.il - on September 19, 2023.
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