Ox Security secures a new $60 million investment to detect vulnerabilities in code.
The startup Ox Security has received a new investment of $60 million for its technology that detects vulnerabilities in codebases.
As "vibe coding" gains popularity and tech companies encourage their developers to adopt generative artificial intelligence tools, a platform dedicated to detecting vulnerabilities in AI-generated code has secured a new round of funding. Ox Security, which assesses risks in both human-created and AI-generated code, recently announced it has raised $60 million in a Series B round. This round was led by DTCP, with participation from IBM Ventures, Microsoft, Swisscom Ventures, Evolution Equity Partners, and Team8, bringing Ox's total funding to $94 million.
Ox was founded in 2021 by Neatsun Ziv and Lior Arzi, who have backgrounds as software and IT engineers and met at Check Point, where they collaborated on threat prevention products. Ox's platform is aimed at both security teams and developers. It provides tools for scanning code in applications and safeguarding companies' supply chains. Through its platform, Ox can model threats and suggest fixes, supporting code reviews and generating executive reports that highlight security violations and their potential causes.
Ziv noted that over the past year, artificial intelligence has significantly transformed software development. While these tools accelerate work for both experienced and novice developers, they often lack the judgment and critical analysis needed to detect subtle security flaws. "Ox allows developers to focus on innovation while simultaneously improving the organization's security posture," he explained.
Currently, Ox analyzes over 100 million lines of code daily for approximately 200 clients, including eToro, SoFi, as well as its investors Microsoft and IBM. "Our customer base ranges from Fortune 10 companies to small and medium-sized enterprises, as well as military and governmental entities," Ziv added.
The new capital will be used for the growth and expansion of this 150-employee startup, which competes with rivals such as Snyk, Veracode, Synopsis, and Checkmarx. Ox is generating about $10 million in annual recurring revenue, a figure that Ziv expects to double by the end of the year, with the goal of achieving positive cash flow within the next two to three years. "We want to position ourselves for long-term success, which will allow us to focus on scaling and achieving our more ambitious goals," Ziv concluded.
