As Astrix emerges from the shadows of stealth with a $15M seed round led by us at F2 Venture Capital along with Bessemer Ventures and Venrock, I wish to reflect on this investment and the factors that continue to drive our belief in this team’s vision and potential.
Astrix Solves Critical Pain Point
While remote and cloud-based work soars, enterprises are relying on third-party integrations to enhance their workflow and productivity more than ever. An estimated 83% of web traffic comes from APIs, the API market is growing at 32% year over year, and top SaaS companies each have an average of 350 API integrations!
But with this tangled web of third-party integrations comes a tug-a-war with heavy consequences.
On one hand, you want to keep your business as secure as possible. An unmonitored tangle of third-party integrations threatens this security, exposing businesses to possible supply chain attacks, data spillages, compliance violations, and more- a CISO’s nightmare.
On the other hand, you want the fluidity and simplicity afforded by the usage of third-party applications. These apps not only enhance your offering to customers, they also drive enterprise growth and productivity vital to any scaling SaaS company.
A product that can break this paradigm and end the tug-a-war between fluidity and security would be a game-changer.
Enter Astrix- Astrix provides adaptive access and data controls to APIs running through an organization, addressing the now-desperate need for visibility and protection in an environment of ever-expanding APIs. This makes them the only solution ensuring and maintaining security hygiene in this growing complex environment.
Technological Capabilities Defending Their Moat
The technology behind Astrix is robust enough to create a solid moat, positioning them as the pioneers in third-party API security.
Astrix provides full integration lifecycle management, beginning with an inventory of all third-party connections to enterprise applications, enhanced with contextual data for individualized exposure assessment and accurate mitigation.
The platform detects malicious anomalies within the third-party integrations, remedies them in real-time, and empowers security teams to seamlessly manage shadow integrations with out-of-the-box security policy and enforcement guardrails.
An Unparalleled Team
When we met Alon Jackson and Idan Gour, it became very clear very quickly that this was one of the strongest founding teams we had ever met.
Both are award-winning cyber security experts with leadership experience in the private sector and the Israel Defense Force’s 8200 military intelligence unit. Alon and Idan are a perfect market-team fit, uniquely knowledgeable on the pain points they solve. Their experience, abilities, and charisma position them as a team that can gracefully tackle such a technology-heavy business.
With the competition for talent that we feel so acutely in our high-tech environment, this founding team has that unlearnable magnetism that will be a huge advantage for them to attract talent and to scale a top team.
Combining the acute pain point Astrix is addressing, the ever-growing API market, the robust technology behind their offering, and a team with experience, confidence, and charisma, you have a winning recipe.
We at F2 are incredibly excited to partner with Alon, Idan, and the entire Astrix team as they exit stealth and continue defining a new category essential for this modern, hyper-connected world.