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 identified suspicious or out-of-policy behavior to automatically reduce the SaaS attack surface. The company's patent-pending App Sandbox captured add-on and integration behavior, providing access intelligence, threat, and vulnerability insights by dynamically assessing network, data, and platform API activities. Canonic Security served enterprise clients in the Cyber Security sector.

Strategic signal

Canonic Security's acquisition by Zscaler in February 2023 signals a strategic consolidation within the cybersecurity market, particularly in SaaS application security. This move indicates a growing demand for advanced solutions to protect cloud-based applications and user accounts, suggesting that larger players are integrating specialized technologies to enhance their offerings and address evolving threat landscapes.

Company Intelligence Q&A

What is Canonic Security's primary focus?

Canonic Security specializes in 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 product launch for Canonic Security?

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

Who acquired Canonic Security?

Canonic Security was acquired by Zscaler in February 2023.

Which investors participated in Canonic Security's funding round?

In February 2022, Canonic Security exited stealth with $6 million in seed funding, with participation from investors including.