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API safety is one thing few organizations are getting proper. The truth is, analysis reveals that 76% of organizations have had an API safety incident up to now yr.
A part of the issue is that builders usually don’t have the time, experience or applied sciences essential to safe APIs at a sustainable tempo for contemporary software program improvement.
API safety supplier Pangea Cyber, which in the present day introduced it has raised $26 million in sequence B funding, is aiming to handle this problem with an API plug-and-play service that permits builders to embed safety capabilities and APIs into their purposes with out creating customized code.
The concept is to make API safety scalable and accessible to builders to allow them to plug within the crucial protections to mitigate dangers to protected information.
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Automating API safety
The announcement comes as API safety incidents proceed to plague builders, with 94% of organizations citing that they’ve skilled safety issues in manufacturing APIs up to now yr.
Whereas there are a lot of causes for these gaps, lack of understanding is likely one of the largest elements.
“Growth groups merely lack the experience so as to add safety capabilities into their purposes,” mentioned Oliver Freidrichs, founder and CEO at Pangea. “With as much as a million software program corporations anticipated by 2027 (in line with Forrester), it’s important that the purposes they construct have entry to a reliable framework of safety features. This new funding will assist us to comprehend and speed up that imaginative and prescient.”
Pangea Cybe’s method is designed to allow customers to embed security measures inside apps to allow them to ship safe merchandise and speed up the general time to market.
Protections can be found for customers so as to add on to the service together with the power to log safety occasions, handle export restrictions, handle personally identifiable info (PII), establish malicious recordsdata, and block customers from high-risk domains.
A take a look at the supplier’s securing APIs
Pangea Cyber’s resolution matches inside the API safety market, which researchers estimate will develop 26.3% yearly between 2022 and 2032 to achieve a price of $10,185.4 million.
The seller is competing in opposition to a variety of established suppliers together with Salt Safety, which makes use of synthetic intelligence (AI) and machine studying to find APIs and uncovered information all through a corporation’s surroundings, in addition to testing throughout manufacturing. Earlier this yr, Salt Safety introduced elevating $140 million in sequence D funding.
One other key competitor available in the market is the API safety platform, Noname Safety, which presents organizations the power to create a listing of APIs and implement real-time detection and response capabilities to establish vulnerabilities and misconfigurations in APIs. The answer additionally presents the power to check APIs earlier than manufacturing. Noname Safety most lately raised $135 million in sequence C funding and achieved a $1 billion valuation in December 2021.
The primary distinction between Pangea Cyber and its rivals is the corporate’s plug-in-and-play method, opting to offer builders with a Safety Platform-as-a-service (SPaaS) framework to present builders a easy and repeatable approach so as to add safety features to their purposes by way of API calls.