An ex-Googler just raised $38 million to catch 'silent' security failures. Read his startup's pitch deck.

Fig Security, a new startup co-founded by a former executive from Google Cloud, has recently exited stealth mode after securing $38 million in funding to address a critical issue it terms 'silent' security failures. The significant investment was led by Team8 and Ten Eleven Ventures, marking a promising start for the year-old company. According to CEO Gal Shafir, large organizations often depend on numerous disjointed tools to identify security threats, but these systems can gradually lose their effectiveness through updates and modifications. "It's often unclear whether detection systems have gone silent due to security measures being effective or because there were breakdowns in the data processes several months back," Shafir explained in an interview with Business Insider. To tackle this challenge, Fig Security has developed software that intricately maps the flow of security alerts within a company—from data creation to human or system response. Should any disruption occur, their technology promptly identifies the issue, enabling teams to test potential solutions before implementation. The team, which includes co-founder and Chief Product Officer Nir Loya Dahan and Chief Technology Officer Roy Haimof, boasts a strong background in cybersecurity, having previously worked at Siemplify, which was acquired by Google for $500 million. Shafir also played a pivotal role in leading security architecture at Google Cloud. After raising an initial seed round in April of last year shortly after leaving their previous roles, the company quickly followed up with a preemptive Series A eight months later. With the newly acquired funding, Fig plans to expand its engineering and sales teams significantly. Currently based in New York and Tel Aviv, Fig Security serves large enterprises and aims to triple its workforce this year, growing from 25 employees. Accompanying this announcement is a glimpse of the pitch deck that Fig Security used to secure the $38 million investment, although some slides have been redacted for public sharing.