Press Release: OX Security Receives Strategic Investment from IBM Ventures to Supercharge Software Supply Chain Security
TEL AVIV, Israel, Aug. 15, 2023 /PRNewswire/ — OX Security, the leading software supply chain security solution and founding member of the Open Software Supply Chain Attack Reference (OSC&R), announced today that it received an investment from IBM, the leading hybrid cloud and AI company and the parent company of Red Hat, the world’s leading provider of enterprise open source solutions. The investment represents the companies’ intent to collaborate on expanding the frontiers of software supply chain security and create value for developers of cloud-native solutions.
OX, an Israeli startup established in 2021, is building the first holistic software supply chain security solution – going beyond the CI/CD or SDLC and providing visibility, automation and risk insights from Code-to-Cloud-to-Code. Through a combination of best practices from risk management and cybersecurity and a fantastic user experience, OX makes software supply chain security processes effortless for security teams to manage and easy for developers to adopt. Standardized to the OSC&R framework, OX also provides the continuity and cohesiveness that many security strategies are often lacking.
“This investment from IBM is proof that OX’s holistic security solution for today’s modern software supply chains is the right solution at the right time,” said Neatsun Ziv, Co-founder and CEO of OX Security. “We look forward to working closely with IBM and the team at Red Hat, helping their enterprise customers bake security into product development – ensuring the integrity of every software build, remediating critical risks quickly and releasing secure products with confidence.”
“IBM has been contributing to open source ecosystems for over 20 years,” said Professor Yaron Wolfsthal, Head of IBM’s Security Center of Excellence in Israel. “With over 75% of applications consisting of open source code, it is critical that organizations be able to determine the trustworthiness of the dependencies, tools and infrastructure used in every project. OX’s holistic approach and its thought leadership in standardizing software supply chain risks represents our commitment to help organizations improve the security of the open source ecosystem,” he continued.
“With IBM’s investment in OX, we continue to emphasize the importance of software supply chain security as a key part of cloud-era application development,” said Ben Daniels, Partner at IBM Ventures.
OX Security demonstrated the company’s solution, running as a Red Hat OpenShift operator, this August at Black Hat 2023 in Las Vegas. OX Security and IBM say they will collaborate to help advance the successful adoption of DevSecOps practices. With this investment, IBM joins existing investors who participated in OX Security’s $34M seed round announced in September 2022.
ABOUT OX SECURITY
At OX, we believe that security should be an integral part of the software development process, not an afterthought. Through a combination of best practices from risk management and cybersecurity and a fantastic user experience, OX makes software supply chain security processes continuous – from design to production – and easy for developers to adopt. Founded by Neatsun Ziv and Lior Arzi, who previously led Check Point’s Security Division, OX provides security and engineering teams with the visibility, prioritization and automated remediation they need to bring security and integrity to every step of the software supply chain and release secure products on time. Visit www.ox.security for more information.
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.
ABOUT RED HAT
Red Hat is the world’s leading provider of enterprise open source software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies. Red Hat helps customers integrate new and existing IT applications, develop cloud-native applications, standardize on our industry-leading operating system, and automate, secure, and manage complex environments. Award-winning support, training, and consulting services make Red Hat a trusted adviser to the Fortune 500. As a strategic partner to cloud providers, system integrators, application vendors, customers, and open source communities, Red Hat can help organizations prepare for the digital future. Visit www.redhat.com for more information.