Zenity raises $16.5M from Intel Capital to secure low-code/no-code applications

Low-code/no-code (LCNC) tools are becoming increasingly popular as AI chatbots like ChatGPT make it easier for people to create and deploy applications without having to code. However, low-code/no-code tools come with their own set of challenges.

The security risks of low-code/no-code applications have also led to a growing concern as these tools become more widely used. It’s against these backdrops that one cybersecurity startup Zenity is on a mission to provide enterprise-grade security to Low-code/no-code applications.

Zenity offers security and governance solutions to Fortune 500 organizations in industries such as financial services, pharmaceuticals, and healthcare that utilize low-code/no-code (LCNC) platforms. Zenity not only safeguards these organizations against security risks and aids in compliance but also grants Chief Information Security Officers (CISOs) and Chief Information Officers (CIOs) the freedom to empower their teams to develop applications without the burden of security concerns.

To continue leading the application security frontier and help organizations promote citizen development, Zenity announced today it has raised $16.5 million in funding led by Intel Capital, with participation from existing investors including Vertex Ventures and Upwest, as well as new investors from Gefen Capital and B5.

This funding will enable Zenity to maintain its leadership in the field of application security and support organizations in fostering responsible citizen development. It will also facilitate the company’s growth, including the expansion of its engineering, security, and product teams in Tel Aviv, as well as strengthening its go-to-market team in North America. This expansion aims to drive customer growth and acquisition efforts.

In conjunction with the latest financing, Yoni Greifman, Intel Capital Investment Director, will join the board of directors.

While working on cloud security initiatives at Microsoft, Zenity Co-Founders Ben Kliger and Michael Bargury identified a pressing issue in governing and securing citizen-developed apps and automation, particularly within low-code/no-code platforms. These platforms offer organizations the flexibility to create tools and streamline operations, but they also introduce security risks. Less technically savvy users are more likely to create vulnerable apps and automation, potentially leading to data leaks and other security issues. Additionally, the integration of Generative AI further complicates matters for security leaders.

Zenity addresses these challenges by empowering organizations that use low-code/no-code platforms to develop securely and compliantly. Their platform offers continuous visibility and risk assessment for all applications, automation, workflows, and connections created across various low-code/no-code platforms. It enables security teams to establish automated safeguards and risk mitigation strategies through policies, playbooks, and customizations.

“As we grow and announce this exciting round of funding, led by Intel Capital, it bears mentioning how proud we are of our excellent team, and are thankful for the support and trust shown by our customers and partners. Together, we are on this journey to incorporate application security know-how to citizen development. There is universal acknowledgment that security teams are lacking the means to be part of the citizen development story and properly protect their organizations,” says Kliger, Zenity’s CEO and Co-Founder. “With this funding round, Zenity will continue to lead this new application security frontier and help organizations push and promote citizen development responsibly.”

“As organizations strive to increase productivity by adopting low-code/no-code and Generative AI tools, everyone is now a developer. However, as business users are empowered to create apps, they circumvent the traditional software development lifecycle, thus making incumbent application security practices obsolete,” said Michael Bargury, Zenity’s Co-Founder and CTO, and the leader of the founding member of the OWASP Low-Code/No-Code Top 10. “CISOs and AppSec leaders need to work together with business units to securely unleash professional and citizen developers to build applications that help accomplish work more effectively, but not at security’s expense.”

This round of funding comes at a time when many organizations are increasingly turning to low-code/no-code development to boost productivity and efficiency. Gartner predicts that by 2025, over 70% of new applications will be created using low-code/no-code methods. However, as these tools enhance productivity and output, they also bring heightened security risks that concern Chief Information Security Officers (CISOs) and Application Security teams.

“With this new era of application development, CISOs and CIOs don’t know what their low-code/no-code environments look like. Today more than ever, they need quick solutions that enable and empower their workforce to build applications,” said Sunil Kurkure, Managing Director at Intel Capital. “With Zenity, IT and information security leaders can give developers the ability to accelerate business while retaining full visibility and control.”