Ox Security Raises $60M to Enhance AI Code Vulnerability Scanning

As “vibe coding” grows and tech firms encourage developers to adopt generative AI tools, a platform detecting vulnerabilities in AI-generated code has secured new funding.

Ox Security, which assesses risks in both AI- and human-written code, announced on Wednesday a $60 million Series B round. Led by DTCP, with contributions from IBM Ventures, Microsoft, Swisscom Ventures, Evolution Equity Partners, and Team8, the funding raises Ox’s total capital to $94 million.

Founded in 2021 by Neatsun Ziv and Lior Arzi in New York and Tel Aviv, Ox Security was established by software and IT engineers who previously collaborated at Check Point on threat prevention solutions.

Ox’s platform, last covered by TechCrunch in 2022, serves security teams and developers, providing tools to scan application code and secure supply chains. It models threats, suggests fixes, aids code reviews, and generates executive reports detailing breaches and their potential causes.

“In the past year, AI has reshaped software development,” Ziv told TechCrunch. “While these tools speed up coding for both seasoned and novice developers, they often miss subtle security issues … Ox saves developers’ time, enabling innovation while strengthening organizational security.”

Ziv says Ox scans over 100 million lines of code daily for about 200 clients, including eToro, SoFi, and investors Microsoft and IBM.

“Our clients range from Fortune 10 enterprises to small- and medium-sized firms,” Ziv said. “We also serve military, government, and federal agency clients.”

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Ziv says the new funding will fuel Ox’s growth and expansion as the 150-employee startup competes with rivals like Snyk, Veracode, Synopsis, and Checkmarx. Generating around $10 million in annual recurring revenue, Ziv expects this to double by year-end and aims for cash-flow positivity within 2-3 years.

“We’re focused on long-term success, scaling, and achieving our broader goals,” Ziv said. “With strong revenue growth and new opportunities, now is the right time to advance the company.”