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 $6M 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 and automatically reduces the SaaS attack surface. The company's patent-pending App Sandbox captures add-on and integration behavior, providing access intelligence, threat, and vulnerability insights by dynamically assessing network, data, and platform API activities. Canonic Security served the enterprise market within the Cyber Security sector, focusing on application and website security.

Strategic signal

Canonic Security was acquired by Zscaler in February 2023, marking a significant exit for the startup. This acquisition indicates a strategic move by Zscaler to enhance its security offerings, likely integrating Canonic's SaaS application security capabilities into its broader platform. For investors, this signals the high value placed on specialized SaaS security solutions and the potential for successful exits in the cybersecurity market.

Company Intelligence Q&A

When was Canonic Security founded?

Canonic Security was founded in October 2020.

Who are the founders of Canonic Security?

Canonic Security was founded by Boris Gorin and Niv Steingarten.

What is Canonic Security's primary focus?

Canonic Security focuses on SaaS application security, providing a platform that profiles applications and user accounts to identify suspicious behavior and reduce the SaaS attack surface.

When did Canonic Security exit stealth mode and raise funding?

In February 2022, Canonic Security exited stealth mode and secured $6M in seed funding, with First Round Capital and SV Angel participating.

When was Canonic Security acquired and by whom?

Canonic Security was acquired by Zscaler in February 2023.