PRESS RELEASE

SAN FRANCISCO, March 2, 2022 /PRNewswire/ -- NeuraLegion, an application security platform enabling developers, DevOps professionals and application security specialists to quickly and seamlessly secure web applications and APIs, today announced a $20 million Series A funding round led by Evolution Equity Partners with participation from previous investors including DNX Ventures, J-ventures, Fusion Fund, and Incubate Fund. The company also announced its rebrand to Bright Security to reflect its mission to illuminate the security testing process.

To keep pace with the rate of modern development, organizations are now deploying 100x the number of applications into production than a decade ago. The issue faced by many enterprises and startups is that while development has dramatically increased in pace, security tools haven't evolved to meet their growing needs. While there has been significant buzz around the movement to "shift-left" for a few years, the reality is that today only 25% of developers are actually responsible for security. Catering largely to AppSec teams rather than developers, most Dynamic Application Security Testing (DAST) tools are implemented too late in the process to remediate vulnerabilities, without impacting deployment timelines, forcing 86% of organizations to deploy vulnerable applications into production.

Bright Security is focused on shifting the process of security left to ensure that Application Security begins in the Build stage and runs through production compliance. The company's DAST solution is designed to bridge the gap as a tool for both the developers who build the product, Dev QA personnel, and the AppSec teams who must eventually secure it. Utilizing Bright's solution, AppSec teams can outline governance and parameters for what needs to be tested and how, and development teams can utilize it throughout the software development lifecycle (SDLC) to identify vulnerabilities and ensure they never make it to production.

The solution also eliminates the massive issue of false positives. In the past, many DAST tools overloaded both application security and development teams with a high rate of false positives, eroding the trust that many have in these solutions, and causing many to forgo using DAST altogether. Bright Security's solution is not only able to identify the existence of vulnerabilities, but also validate that they are actually exploitable to eliminate false positives.

Maintaining that Application Security tools can secure more than "classic" technical vulnerabilities, Bright Security can identify business logic issues. Exploiting business logic vulnerabilities requires an understanding of the application's flow and business purpose, and the process has traditionally relied on costly and time consuming manual testing. Bright Security's automated AI powered solution thoroughly analyzes the application's flow, understands the context, and tests the system through a multitude of interaction combinations, eliminating the need for manual processes for both technical and Business Logic Vulnerabilities.

"In order for security to actually shift-left, developers need to be comfortable with such tools to ensure that they can integrate them in a meaningful way," said Gadi Bashvitz, who was appointed CEO of Bright Security starting in January. "We created a tool that caters to developers as well as AppSec teams, offering a solution that provides remediation solutions in developer speak as well as AppSec language to enable effective usage both pre- and post-production."

"Application Security is ready for an overhaul to meet the demands of the current market," said Karthik Subramanian, Partner at Evolution Equity Partners, who is joining the Board of Bright Security. "Tools that were built exclusively for the AppSec team are already antiquated if they aren't usable by developers and the DevOps team`, and our tools must evolve to ensure security isn't the job of one team, but rather a joint mission with shared and distributed responsibilities."

To date, developers at more than 4,000 organizations have signed up to Bright Security's cloud service and it has more than 50 large enterprise customers, including leading technology companies, global financial institutions, and cybersecurity companies who secure their applications with Bright. The company is headquartered in San Francisco and has offices in Israel, and across Europe. It will utilize the funds to expand its product and build out its engineering, sales, and marketing teams.

About Bright Security

Bright Security significantly improves application security by providing a no-false positive, dynamic application security testing (DAST) solution purpose-built for modern development environments.  The Bright vulnerability scanner works across common application protocols for Web, mobile, and  APIs,  and seamlessly integrates with the development and DevOps toolchain to provide security with every build. Bright has offices in San Francisco, London, Sarajevo, and Tel Aviv.

About Evolution Equity Partners

Evolution Equity Partners, based in Palo Alto, New York City, London and Zurich invests in fast growing technology companies helping exceptional entrepreneurs develop market leading companies. The firm has a focus on Cybersecurity and adjacent Enterprise Software markets and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world. Learn more at www.evolutionequity.com and follow us at LinkedIn and Twitter.