Fig Security Unveils $38M Solution to Security’s Constant Flux

For corporations, the ability to analyze information reveals far more than innovative methods to generate revenue. The contemporary corporate technology infrastructure is astoundingly intricate — it utilizes numerous applications that interoperate and malfunction in distinct ways. Consequently, examining data flows enables organizations to discern when, where, and why issues arise.

However, cybersecurity divisions cannot afford to postpone action until a malfunction occurs to rectify it. Figuratively speaking, a dormant alert system that hasn’t activated for a prolonged period cannot be relied upon to be functional. Furthermore, today’s security architecture is so packed with utilities that a minor alteration in one could have unforeseeable cascading impacts that might jeopardize identification and mitigation functions.

Fig Security, an emerging company founded by former members of Israel’s elite cyber and information intelligence units 8200 and Mamram, asserts its ability to assist security teams in addressing this issue by observing the security environment. This monitoring verifies whether their policies, remediation utilities, and threat identification and countermeasure abilities are operating correctly or have been diverted off course by modifications. This nascent firm recently emerged from its covert phase, having secured $38 million in initial and subsequent investment rounds, as TechCrunch exclusively reported.

Essentially, the company’s technology maps information pathways within the security infrastructure, from their starting point at sources, through data conduits and repositories, to security orchestration and automated response platforms. It then notifies security personnel when alterations at any stage impact threat detection or remediation functions. Furthermore, the system enables organizations to replicate the potential impact of novel solutions, updates, or modifications on their infrastructure prior to implementation.

“Rather than examining information and following its progression to ascertain its final destination, we focus on your detection mechanisms, as these are what truly must function effectively,” Gal Shafir, Fig’s CEO and co-founder (seen above, center), clarified to TechCrunch. “Identification or countermeasure represents the ultimate arbiter of truth, and subsequently, we retrospectively analyze the integrity and requisite data transformations needed for it to activate the detection when an incident occurs. Following this, we inform [the security team] immediately if any discrepancy arises.”

Shafir stated that Fig accomplishes this by extracting portions of an organization’s data as it traverses various utilities within the framework and comprehending its evolution through the processing chain. This capability allows the firm to establish a “data provenance” which can be utilized to determine how modifications made earlier in the process might impair security applications later on, instantaneously.

The nascent enterprise asserts its integration with data repositories and Security Information and Event Management (SIEM) frameworks to achieve these objectives, thereby enabling its technology’s compatibility with a wide array of security utilities and settings.

The unveiling of Fig coincides with a period of ongoing transformation for businesses, particularly as executive leadership faces demands to ascertain how AI-driven solutions can contribute to cost savings, minimize human fallibility, and enhance operational effectiveness. However, the proliferation of numerous applications has complicated the responsibilities of contemporary security departments. Which defensive strategies should a Chief Information Security Officer emphasize? What constitutes the optimal security stance, given that malicious actors are employing AI to orchestrate progressively advanced assaults?

Shafir, formerly at the helm of Google Cloud Security’s worldwide architecture division prior to founding Fig, recounts encountering this ambiguity directly during client consultations when promoting Google’s artificial intelligence offerings.

“Every CISO, irrespective of their team’s scale, security expenditure, or organizational dimensions, expressed sentiments like, ‘Hold on, I grasp that AI is impressive, but I’m uncertain if I can rely on my current detection mechanisms. How can I have faith in AI assuring me that all will be well tomorrow if I lack confidence in the underlying data?’” 

This experience prompted Shafir and his co-founders, Nir Loya Dahan (Chief Product Officer), and Roy Haimof (Chief Technology Officer), to recognize their potential to resolve the challenge faced by security groups in comprehending real-time operational status.

“At that juncture, we concluded that a significant, acknowledged problem persisted without a viable resolution, primarily due to the multitude of vendors and the inherently intricate infrastructure. That was the instant we decided to cease our previous endeavors, resign, and proceed to develop Fig,” Shafir recounted.

Shafir reports that since its debut eight months prior, Fig has acquired a client base of major corporations numbering in the “low double-digits,” with projections for this figure to expand to between 50 and 100 by year-end.

The nascent company intends to allocate the recently secured capital to broaden its operations in North America and to thrice its workforce across its engineering and market-facing divisions.

Among the financial backers in these investment stages are Team8 and Ten Eleven Ventures, alongside notable cybersecurity experts such as Doug Merritt (previously CEO of Splunk), Rene Bonvanie (former Chief Marketing Officer of Palo Alto Networks), and the originators of Demisto and Siemplify.