Moglix Raises $120M in Series B; Valued at $1 Billion
18 May, 2021
– AppOmni, a provider of software-as-a-service (SaaS) security management, announced the closing of a $40 million round led by Scale Venture Partners.
– The company says it will use the funding to grow its footprint and bolster product R&D as it looks to acquire new customers.
– Estimates show that 92% of web apps have security flaws that can be exploited, and some 16.2% of U.S. companies have two or more web apps that don’t securely store personally identifiable information.
– The problem is often less negligence than ignorance, as companies lack the expertise required to lock down their services and platforms.
– A recent survey by ESG and the Information Systems Security Association found that 70% of organizations believe they’re impacted by a cybersecurity skills shortage.