Nokod Rakes in $8 Million Seed Round to Reinforce Low-Code/No-Code App Security: A Boost from Cybersecurity Veterans

Nokod Security Raises $8 Million in Seed Round to Expand Presence in U.S. Market and Address Security Vulnerabilities in Low-Code/No-Code Applications

Introduction

Nokod Security, a Tel Aviv-based startup, has announced its successful $8 million seed round led by Acrew Capital, Meron Capital, and Flint Capital. The funds will be used to establish Nokod‘s presence in the United States market, as well as to expand its research and development teams and support novel research related to security vulnerabilities in the low-code/no-code domain.

Rising Adoption of Low-Code/No-Code and RPA Platforms

The adoption of low-code/no-code and Robotic Process Automation (RPA) platforms is predicted to reach 65% of the IT market by 2024. These platforms, such as Microsoft PowerApps, ServiceNow, and UiPath, offer businesses a way to develop applications quickly with minimal complex coding using third-party toolkits. However, these platforms are not covered by traditional application security stacks, exposing them to new attack surfaces and the risk of compliance violations.

Nokod Security’s Founders and Expertise

Nokod Security was founded by Yair Finzi and Amichai Shulman, both cybersecurity entrepreneurs with extensive experience in the industry. Yair Finzi, a former Head of Department in an elite cybersecurity unit of the Israeli Army, co-founded and led SecuredTouch, which was later acquired by Ping Identity. Amichai Shulman co-founded and served as CTO of Imperva, a multibillion-dollar cybersecurity company specializing in web application firewall (WAF) and database security.

Nokod Security’s Platform and Solutions

Nokod Security’s platform aims to help businesses manage cybersecurity and compliance risks associated with their low-code/no-code custom applications and RPAs. The platform provides a comprehensive view of the application inventory, identifies security issues and vulnerabilities, and offers customized auto-remediation options, effectively accelerating organizations’ digital transformation.

Partnerships and Future Prospects

Nokod Security is currently in discussions with Fortune 500 companies across various verticals. The company’s platform addresses a critical need in the market, as the adoption of low-code/no-code tools continues to increase. By providing 100% secure citizen development within enterprises, Nokod Security aims to prevent a repetition of the security vulnerabilities prevalent during the early days of widespread coding without proper security measures.

Editorial: The Importance of Security in Low-Code/No-Code Development

The rise of low-code/no-code platforms offers significant benefits in terms of speed and efficiency in application development. However, the lack of comprehensive security measures for these platforms presents a significant risk for businesses. As more organizations adopt low-code/no-code tools, it is crucial to prioritize security and implement measures to safeguard sensitive business and personal data.

The Security Gap in Low-Code/No-Code Development

Low-code/no-code applications and RPAs create a new attack surface that needs to be properly addressed. Traditional application security stacks do not cover these platforms, leaving businesses vulnerable to potential cyberattacks and compliance violations.

Nokod Security Fills the Gap

Nokod Security’s platform fills this critical security gap by providing organizations with the necessary tools to secure their low-code/no-code custom applications and RPAs. By streamlining security into the application’s lifecycle, Nokod Security ensures that businesses can embrace these development tools without compromising on security.

Advice for Businesses Adopting Low-Code/No-Code Tools

As businesses increasingly turn to low-code/no-code platforms, it is vital to consider the following security measures:

1. Choose a Secure Platform

When selecting a low-code/no-code platform, prioritize security features and ensure that the platform offers robust security measures.

2. Implement Secure Development Practices

Train developers and citizen developers on secure coding practices, such as input validation, authentication, and authorization, to prevent common vulnerabilities.

3. Continuous Security Monitoring and Testing

Regularly scan and test low-code/no-code applications for security vulnerabilities and conduct penetration testing to identify potential weaknesses.

4. Partner with Security Experts

Consider partnering with cybersecurity companies like Nokod Security that specialize in securing low-code/no-code applications. Their expertise can provide valuable guidance and support in implementing robust security measures.

5. Stay Updated on Security Best Practices

Keep abreast of the latest security best practices and industry standards to ensure that your low-code/no-code applications have the necessary security measures in place.

Conclusion

Nokod Security’s successful seed round highlights the growing recognition of the need to address security vulnerabilities in low-code/no-code development. With the anticipated rise in adoption of low-code/no-code tools, businesses must prioritize security and invest in comprehensive solutions to protect their applications and data. By implementing secure development practices and partnering with cybersecurity experts, businesses can embrace the speed and efficiency of low-code/no-code tools without compromising on security.