BOSTON & TEL AVIV--(BUSINESS WIRE)--AppInside, the SaaS platform for identification and resolution of security vulnerabilities in mobile apps, has closed $2.3M in seed funding from Accomplice and angel investors. AppInside scans mobile apps to detect security vulnerabilities and identify cloned versions of apps to protect both the owners of those apps and their users. The service is easy-to-use, does not require integration or access to source code, and provides recommendations for resolution. AppInside’s new funding will be used to further develop and commercialize the platform and to facilitate the re-location of company headquarters to Boston.
“Mobile applications are at the highest risk of exploitation, leaving both mobile app developers and their users vulnerable to data breaches and other malicious activity. For the most part, the app owners are unaware of their exposure to these threats,” said Elon Ohevya, co-founder and CEO of AppInside. “The funding is a validation of our approach and the immense problem we are trying to solve. We are pleased that our investors support our mission to fix mobile app security vulnerabilities before they are exploited.”
Mobile app downloads have risen to 26 billion this year; and Gartner has reported that 75% of mobile applications will fail basic security tests. AppInside’s SaaS security platform runs advanced learning algorithms against an app’s run-time behavior in a simulated hacking environment. It provides an initial assessment of risks, as well as ongoing scanning and alerts, for the most up-to-date protection against new vulnerabilities and potential threats. The platform provides reports immediately, with a ranking level of each risk’s severity, and guidelines for fixing security vulnerabilities. In addition, AppInside can detect cloned applications and provide the rightful owner with the conclusive evidence needed to protect their intellectual property.
“AppInside is based on world-class security research and the practical application of offensive hacking techniques,” said Jeff Fagnan, partner at Accomplice. “The mobile device is becoming the next target for hackers. AppInside has the right technology and the right team to prevent exploitation.”
AppInside was founded by veterans of the security industry and top cyber security operatives from the Israeli Defense Forces (IDF) and CheckPoint. The company was selected as one of ten startups to participate in the inaugural TechStars Berlin program which is currently underway.
Accomplice (FKA Atlas Venture) invests in tech entrepreneurs and creates companies at the earliest stages. For more information, visit www.accomplice.co.
AppInside helps businesses safeguard their mobile applications and protect their users. Its SaaS security testing platform provides up-to-the minute vulnerability assessment and the means for fixing security risks. For more information, visit www.appinside.co.