Valence, a Tel Aviv-based security startup that aims to help businesses better protect what Valence calls the “business application mesh,” today announced that it has raised a $7 million seed round, led by YL Ventures. Stonemill Ventures, the St. Louis Cyber Interest Group (STLCIG) and a number of angel investors, including a group of prominent CISOs, also participated in this round.
Founded by CEO Yoni Shohet (who also previously co-founded SCADAfence) and CTO Shlomi Matichin, Valence helps businesses better understand the connections between the many enterprise SaaS and self-hosted applications they now use. Often, after all, a company may use APIs, automation tools like Workato or Zapier or SaaS marketplaces to get more value from their various tools. But at the same time, this network, which Valence dubs the “business application mesh,” often grows without a lot of governance, leaving the door open for a variety of security issues from the shadow connectivity, over-provisioned privileges and unmanaged third-party access that is the inevitable result of connecting all of these disparate systems.