News Summary

Ox Security, a cybersecurity startup based in New York and Tel Aviv, has successfully raised $60 million in a Series B funding round. This investment was led by DTCP with contributions from notable entities such as IBM Ventures, Microsoft, Swisscom Ventures, Evolution Equity Partners, and Team8. Founded in 2021 by Neatsun Ziv and Lior Arzi, both ex-employees of Check Point, Ox Security has now amassed a total of $94 million in funding. The company specializes in developing a platform that identifies vulnerabilities in both AI-generated and human-written code, offering solutions to security teams and developers. Ox’s platform, known for its comprehensive threat modeling and code review capabilities, is already utilized by around 200 clients, including major companies like eToro, SoFi, and investors Microsoft and IBM. With the new funding, Ox Security aims to expand its operations and market presence while targeting long-term profitability. The company is on track to double its annual recurring revenue by the end of the year and plans to achieve cash-flow positivity within the next two to three years.