Spectro Cloud completed a $75 million Series C funding round led by Growth Equity at Goldman Sachs Alternatives with participation from existing Spectro Cloud investors.
Companies are struggling to keep up with rapidly evolving threats and the need to automate security efforts. Attacks against web applications have increased in prevalence to become the single biggest cause of data breaches. As the battlefield shifts more and more from the network to the application, it is important to understand how companies are meeting this challenge.
Verizon's 2020 Data Breach Investigation Report found that 43% of breaches could be traced back to attacks against web applications — more than double the results from last year. Equifax is a high-profile example of a web application data breach that exposed the personal information of 147 million people, costing the company $1.38 billion in settlements and security upgrades.
According to Web Application Security — Enterprises are Losing the War, a report prepared by Acunetix and Dimensional Research, 88% of companies now develop web applications in-house.
Half of the respondents have been successful with their shift-left efforts and include web application security scans with every code build or during unit testing. However, that leaves half that don't scan early enough and may incur major time and resource costs to remediate vulnerabilities. Remarkably, half of the respondents said that vulnerabilities are found faster than they can be fixed, meaning their web applications are open to an attack.
"Companies have moved quickly into building their own software, including customer-facing software that contains sensitive data, but have struggled with the challenge of securing those applications," said Mark Ralls, President and CEO of Acunetix.
Nearly 64% of enterprises still burden specialized security personnel with simple web application security testing that could be automated. And less than half of companies empower developers to run security scans on their own code.
"While companies are definitely making the effort to secure their web applications, with half of companies scanning at each code build and 80% scanning all web applications, 36% of the respondents reported using security testing tools that are inadequate for the job," said Ralls. "It's not enough to check the box on web application security, companies need high-quality dynamic security testing solutions to effectively protect themselves and their customers."
Methodology: Security, DevOps, and C-suite professionals from 382 organizations across the globe participated in the survey.
Industry News
The Cloud Native Computing Foundation® (CNCF®), which builds sustainable ecosystems for cloud native software, has announced significant momentum around cloud native training and certifications with the addition of three new project-centric certifications and a series of new Platform Engineering-specific certifications:
Red Hat announced the latest version of Red Hat OpenShift AI, its artificial intelligence (AI) and machine learning (ML) platform built on Red Hat OpenShift that enables enterprises to create and deliver AI-enabled applications at scale across the hybrid cloud.
Salesforce announced agentic lifecycle management tools to automate Agentforce testing, prototype agents in secure Sandbox environments, and transparently manage usage at scale.
OpenText™ unveiled Cloud Editions (CE) 24.4, presenting a suite of transformative advancements in Business Cloud, AI, and Technology to empower the future of AI-driven knowledge work.
Red Hat announced new capabilities and enhancements for Red Hat Developer Hub, Red Hat’s enterprise-grade developer portal based on the Backstage project.
Pegasystems announced the availability of new AI-driven legacy discovery capabilities in Pega GenAI Blueprint™ to accelerate the daunting task of modernizing legacy systems that hold organizations back.
Tricentis launched enhanced cloud capabilities for its flagship solution, Tricentis Tosca, bringing enterprise-ready end-to-end test automation to the cloud.
Rafay Systems announced new platform advancements that help enterprises and GPU cloud providers deliver developer-friendly consumption workflows for GPU infrastructure.
Apiiro introduced Code-to-Runtime, a new capability using Apiiro’s deep code analysis (DCA) technology to map software architecture and trace all types of software components including APIs, open source software (OSS), and containers to code owners while enriching it with business impact.
Zesty announced the launch of Kompass, its automated Kubernetes optimization platform.
MacStadium announced the launch of Orka Engine, the latest addition to its Orka product line.
Elastic announced its AI ecosystem to help enterprise developers accelerate building and deploying their Retrieval Augmented Generation (RAG) applications.
Red Hat introduced new capabilities and enhancements for Red Hat OpenShift, a hybrid cloud application platform powered by Kubernetes, as well as the technology preview of Red Hat OpenShift Lightspeed.
Traefik Labs announced API Sandbox as a Service to streamline and accelerate mock API development, and Traefik Proxy v3.2.