Cybersecurity startup Canonic Security raises $6 Mn in seed funding

Cybersecurity startup Canonic Security, which develops protecting SaaS business applications, announced they have raised $6 million in seed funding. Led by CEO Boris Gorin and CTO Niv Steingarten,  the company was funded by leading global investors including First Round Capital, Elron Ventures, SV Angel and Operator Partners. 

Prior to Canonic Security, Gorin led large scale SaaS threat detection operations from idea to adoption by thousands of enterprises while at Proofpoint. Niv Steingarten joined Canonic Security from OverOps, where he was co-founder and vice president of engineering, leading the design and development of one of the industry's first Application Performance Analysis solutions. 

Josh Kopelman, Founder and Partner at First Round said, ”The SaaS platforms used by today's businesses can connect with upwards of thousands of micro-apps, all in increasingly complex ways. This has opened up a whole new frontier of security challenges and Canonic's SaaS-native approach addresses these challenges head on by helping security teams continuously monitor, detect, and resolve the threats that every new integration and add-on can introduce."

The Israel based company also unveiled the Canonic App Governance platform, powered by the industry's first app sandbox. The commercially available platform redefines SaaS application security by allowing enterprises – for the first time ever – to simulate third-party apps and SaaS-native code behavior in its SaaS sandbox environment before granting access to organizations' business applications.