Idan Ninyo, CEO of Bionic Discusses Launch Out of Stealth, $17M Funding, App Intelligence Mission
Today, Bionic emerged from stealth with $17 million in funding and an innovative platform that gives enterprises the ability to understand and control the chaos created by the onslaught of application changes pushed to production every day.
We sat down with Idan Ninyo, co-founder and CEO of Bionic to discuss the company's launch and the security challenges it aims to solve for enterprises.
Congrats on the launch and the funding. Tell us about the creation of the company and its mission.
Bionic was founded by Idan Ninyo (CEO) and Eyal Mamo (CTO), both of us alumni of the Israel Defense Forces Unit 8200, the cyber division that's similar to the NSA in the U.S.
When we started, in both of our previous roles, we saw that enterprises were becoming software companies, and that they were struggling with their digital transformation efforts - something that's a core initiative for them to increase (and even just maintain) their competitive edge.
We partnered up with great investors (Cyberstarts, the former CTO at Goldman Sachs, and the former CIO at Barclays), and interviewed 50 CIOs, CTOs, and CISOs and asked all of them what their biggest challenge was with becoming a software-driven company. The answer that came up every time was that, as developers are pushing code to production faster than ever, it is becoming impossible to maintain compliance, risk, and operational resiliency.
We have great early traction from customers, and recently partnered with Battery Ventures and raised additional capital to scale our go to market operations in the U.S. We partnered with Battery because of their vast experience in building successful enterprise IT companies such as Sumo Logic, Gong and jFrog.
What critical security challenges does Bionic aim to solve?
The critical security challenge is that effective risk and compliance management efforts truly require an up-to-date understanding of your application's detailed architecture. Manual efforts can't keep up and often, CMDBs don't have the detail. With Bionic, our visibility is always up-to-date and without the effort.
What makes Bionic different than other solution providers?
Bionic is the only solution in the world which can control applications and obtain granular visibility of their architecture. To do that, we developed a technology that automatically reverse engineers applications to understand their architecture, dataflows and dependencies.
What are your plans for Bionic in 2021?
Our goal for 2021 is to scale our go to market operations and increase the size of our R&D to deliver more value to our customers.
What advice would you have for security pros heading into the New Year?
With the move to cloud and DevOps, the only way to maintain secure architecture and decrease the risk of production environments is by truly understanding and controlling your applications.