Apiiro

Apiiro was founded in 2019 by Idan Plotnik (CEO) and Yonatan Eldar (CTO). Plotnik is a repeat entrepreneur in the Israeli security ecosystem: he previously founded Aorato, a Microsoft Active Directory-focused threat-detection startup that was acquired by Microsoft in 2014, after which he served as a General Manager at Microsoft. Apiiro emerged from stealth in October 2020 with a $35 million Series A led by Greylock Partners and Kleiner Perkins, launching what it called the industry's first 'Code Risk Platform' -- a tool designed to give security teams a real-time inventory of application and infrastructure risk by analyzing code and design changes as they happen, rather than relying on point-in-time scans. Early board members and advisors included Greylock's Saam Motamedi, former Kleiner Perkins general partner Ted Schlein, and several former Fortune 500 CISOs (Charles Blauner of Citi, David Frieman of NAB/RBC/JPMorgan, and Samir Shrif of Imperva), reflecting the company's enterprise-security-buyer orientation from day one.

Through 2021 and 2022 Apiiro built out its go-to-market and research functions, adding a Chief Revenue Officer (David French, ex-Qualys), a VP of Business Development from GitHub (John Leon), a VP of Security Research (Moshe Zioni), and a Chief Architect Officer (Eldan Ben-Haim), while achieving SOC 2 Type I and Type II attestations and winning the RSA Conference Innovation Sandbox 'Most Innovative Startup' award (2021) and a Gartner Cool Vendor in DevSecOps recognition. The company also published original security research, including discovery of a zero-day software supply chain vulnerability in Argo CD and widely cited findings on secrets exposure in private code repositories.

In November 2022, Apiiro announced a $100 million Series B led by General Catalyst, with participation from existing investors Greylock and Kleiner Perkins, bringing total funding to roughly $135 million. TechCrunch reported the round came after acquisition discussions with Palo Alto Networks (reportedly around a $550M valuation) fell through, and that Apiiro had grown ARR roughly 400% in Q3 2022 alone, with plans to roughly double its ~90-person headcount. The Series B funded expansion 'from code to runtime,' extending the platform beyond source-code and design-time risk detection into cloud and runtime context, and the formal repositioning of the category as Application Security Posture Management (ASPM) -- a term Gartner popularized shortly after.

Business model

B2B SaaS, enterprise subscription (annual contracts, sold to CISOs / AppSec and platform-security teams)

Recurring subscription license to the ASPM/Code Risk Platform, priced on developer/repository footprint