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News Summary

• “With Otterize, developers can make those calls securely by simply declaring, alongside their code, the calls their code intends to make.”As Greenwald went on to explain to me, Otterize uses declarations to set access controls to allow intended calls — and block any unintended ones.
• According to a 2021 survey from JumpCloud and ESG Research, 97% of security executives planned to expand or continue existing spend on identity and access management tools.Beyond access management, 65% of organizations plan to increase spending on cybersecurity this year, an ESG Research poll found.
• “Otterize is pioneering a new approach for access controls, automating the provision and maintenance of necessary access without human coordination, in so doing also securing the entire ecosystem of services based on least-privilege principles.”
• Tomer Greenwald, Uri Sarid and Ori Shoshan, software developers by trade, found themselves building and configuring software authentication and authorization mechanisms repeatedly — each time with a different tech stack.
• Otterize today raised $11.5 million in a seed funding round led by Index Ventures with participation from Dig Ventures and Vine Ventures, Jibe Ventures, Crew Capital and Operator Partners.“Most software these days is composed of multiple services that call each other,” Greenwald told TechCrunch via email.
• If one service is compromised, it can’t be used to compromise other services it wasn’t intended to call.