Sola Raises $30 Million for ‘Self-Serve’ Cybersecurity Solution

Sola Security has raised $30 million for its no-code, artificial intelligence (AI)-powered cybersecurity platform.

The seed funding, announced Tuesday (March 11) as the company emerged from stealth, will allow Sola to develop its solution, which it says lets businesses build security apps without needing “deep technical expertise” or having to spend too much.

Guy Fletcher, Sola’s co-founder and CEO, said the Israeli company views itself as part of a “self-serve revolution” embodied by companies like Stripe and Canva.

“Security tools today are either too narrow to solve real problems or too bloated to be usable, and we knew there had to be a better way,” Fletcher said in a news release. “Sola Security lets any team create and customize security solutions instantly, without the overhead, without the engineering burden, and without the ridiculous price tag.”

In other cybersecurity news, PYMNTS wrote late last month about the use of digital identity to offer seamless access to systems while reducing risks.

“For example, digital identity solutions can move beyond passwords, incorporating multifactor authentication, biometric data and behavior-based verification,” that report said. “Decentralized identity frameworks help ensure that only the right individuals or systems gain access to specific resources, something that can be crucial in preventing unauthorized access.”

The prime concept behind decentralized identity is that by doing away with centralized identity repositories, businesses can help mitigate the risk of large-scale data breaches.

While Big Tech has the resources to develop advanced cybersecurity solutions, B2B firms can tinker with and adopt many of these strategies without going overbudget.

Microsoft, Google and others use a “Zero Trust” model, in which every access request is viewed as potentially hostile until verified. B2B firms can employ this approach by employing continuous authentication and authorization protocols within their systems.

“In the same way that I trust physical keys to the physical lock on my home, I trust digital keys for my digital life,” Adam Lowe, chief product and innovation officer at Arculus/CompoSecure, told PYMNTS recently.

B2B companies can also focus on robust identity and access management (IAM) practices, making sure digital identities are authenticated and authorized across all systems.

“If a deal seems too good to be true, it probably is,” Chris Ward, head of enterprise payments at Truist, told PYMNTS in February. “Businesses … need to be vigilant, especially when transacting with unknown entities or offers that appear overly enticing.”