Funding round secures $25M for Valence Security

TechCrunch reports that business app infrastructure security firm Valence Security has landed $25 million in a Series A funding round, bringing total investment to $32 million. Newly-raised funds will be redirected toward advancing product development and increasing the company's workforce, according to Valence Security co-founder Shlomi Matichin. Valence has been founded in 2021 to help address software-as-a-service supply chain visibility concerns that have been emphasized by the widespread SolarWinds breach. Aside from identifying organizations' SaaS applications and conducting vendor risk assessments, Valence's platform also enables authentication key, third-party integration, and no- and low-code workflow management. "Beyond security concerns, the repercussions of SaaS supply chain attacks are at the top of business priorities in light of the growing number of high-profile SaaS supply breaches over the past two years. These breaches can expose multiple interconnected SaaS applications for a single organization as well as threaten the business-critical data stored in those applications. This risk to business objectives, as well as to business continuity and efficiency due to the significant impact these breaches have on SaaS use, should be top-of-mind for the C-suite," said Matichin.