YL Ventures announces $6 million investment in build.security during Mind The Tech 2020

YL Ventures co-founder and managing partner Yoav Leitersdorf announced during his appearance on Calcalist and CTech’s Mind The Tech New York 2020 online conference that the firm has invested $6 million in a new company, build.security. Leitersdorf was joined by Amol Kulkarni from Crowdstrike, whose CEO George Kurtz is also an investor.

“This is a company that’s focusing on the authorization space, which I can tell you from my experience is a big challenge,” said Kulkarni, Crowdstrike’s Chief Product and Engineering Officer, who will join build.security’s board of directors. “Authorisation, unlike authentication, is really a lot more focused on the individual application owners and the individual application developers.”

In cybersecurity, authentication relates to who the user is and what the context is for some of the behavior online. However, authorization deals with access control and deciding if that authenticated identity is allowed to take a particular action against a particular resource. It is an area, Kulkarni claims, which is underserved in the cyber sector.

“That’s the reason I’m so excited to join the board, to build a new platform that focuses on and solves this authorization problem,” he added.

“I can’t remember a time where we’ve had so much excitement for a new company,” said Leitersdorf. “We feel like the market is prime for this company and the investment opportunity.”

Crowdstrike is a cloud-native endpoint security platform that helps customers protect themselves against malware attacks. It was founded in 2011 and today has more than 1,680 employees. YL Ventures is focused on supporting the U.S. go-to-market of early-stage companies from Israel. It manages funds of more than $300 million and focuses on cybersecurity solutions.

You can watch the entire announcement in the video above.