Canonic Security

Company Overview

Snapshot

Founded in October 2020 by Boris Gorin and Niv Steingarten, Canonic Security operated with 1–10 employees. The company raised $6 million across one funding round from 5 investors, with First Round Capital as a lead investor. Canonic Security was acquired by Zscaler in February 2023.

Business overview

Canonic Security developed a SaaS application security platform designed to continuously profile applications and user accounts. Its core technology identifies suspicious or out-of-policy behavior, automatically reducing the SaaS attack surface. The company's patent-pending App Sandbox captures add-on and integration behavior, providing access intelligence, threat, and vulnerability insights through dynamic assessment of network, data, and platform API activities. Canonic Security served the enterprise market within the Cyber Security sector, specifically focusing on Application & Website Security.

Strategic signal

In February 2023, Canonic Security was acquired by Zscaler. This acquisition signals a strategic move by Zscaler to integrate Canonic's SaaS application security capabilities, enhancing its offerings in identifying and mitigating risks associated with third-party applications and user behavior. For investors, this demonstrates the market's demand for advanced SaaS security solutions and validates Canonic Security's technology and approach in a rapidly evolving threat landscape.

Company Intelligence Q&A

What is Canonic Security's primary focus?

Canonic Security focuses on SaaS Application Security, providing a platform that continuously profiles applications and user accounts to identify and mitigate suspicious behavior, thereby reducing the SaaS attack surface.

When was Canonic Security founded and by whom?

Canonic Security was founded in October 2020 by co-founders Boris Gorin and Niv Steingarten.

What was a significant financial milestone for Canonic Security?

In February 2022, Canonic Security exited stealth with $6 million in seed funding, led by.

What was the outcome for Canonic Security?

Canonic Security was acquired by Zscaler in February 2023 and subsequently ceased to operate as an independent entity.

What product did Canonic Security launch to streamline app vetting?

In August 2022, Canonic Security launched the AppTotal API to streamline app vetting processes for security teams.