Techjockey News

Savvy, the startup which aims to aid companies in tackling SaaS vulnerabilities, raised a fund of $30M in the funding round which was led by Canaan and had participations from Cyberstarts and Lightspeed.

Savvy was launched by Guy Guzner along with Eldar Kleiner, David Ben Zakai, and Yoav Horman, in 2021 to limit the “user-initiated” security incidents in SaaS. It will be installed as a browser extension and will release pop-ups to alert the user whenever the user is about to do an action which is not secure. Security teams at the backend would build workflows from automation playbooks and track improvements over time.

Savvy will only take in limited information, specifically metadata, for monitoring and reporting and store it for 180 days. Most of its data processing is done locally and it delivers a deployment model which the customers can run in their private cloud.

This fund will go into scaling Savvy’s go-to-market presence and the team of 50 people, with major focus on U.S. market. It will also build the company’s customer support with success functions. Guzner said “We started selling our solution earlier this year while still in stealth mode and we’re seeing a growing demand from enterprise customers for our solution, so it made sense to raise funds now and scale the company.”