Estonia’s WebARX secures new second-round funding
Apr 5, 2019
Estonian web security start-up WebARX , has secured a six-figure second round investment boost. As reported by tech.eu , Spanish cybersecurity company Open Data Security and Estonia’s LIFT99 are behind the investment. The company was founded in July 2018, and has seen tremendous success, especially after finding a flaw in a crucial WordPress plugin in February 2019. According to Luka Šikić, one of WebARX’s developers and researchers; the plugin’s vulnerability put more than 40,000 WordPress sites at risk. “Today, most websites and web applications are built with different frameworks and components that make the development process faster and easier. In many cases, third-party components can be flawed and vulnerable to different attacks, which in some cases are not detected as traditional vulnerabilities and can often bypass generic web application firewalls. WebARX is focusing on component security and on the issues which come with modern web application development. We help developers and agencies keep a good overview of their websites’ security statuses and proactively protect against malicious traffic,” said Oliver Sild, CEO and co-founder of WebARX. “We felt their product was very innovative and was a perfect addition to our portfolio. After numerous meetings with the founder Oliver Sild and the rest of the team, we knew that these were the right people to drive this company forward and didn’t hesitate to jump on board to offer our financial assistance,” added Gareth Sharp, CEO of Open Data Security.