Neosec Named a 2022 Gartner® “Cool Vendor” in Application Security

Use of APIs is Booming and a Primary Concern for Security and Risk Professionals.

Neosec, the pioneer in discovering and protecting PIs using behavioral analytics, announced that it has been included in the 2022 Gartner Cool Vendors™ in Application Security: Protection of Cloud-Native Applications report. Neosec, which recently came out of stealth, provides a cloud-based API security platform that provides protection from fraud and abuse. Neosec is one of only three vendors included in this report.

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According to the report, “API security challenges are among the main concerns of security and risk management (SRM) leaders, as unmanaged and unsecured APIs create vulnerabilities that could lead to an increase in security incidents.” The recommendation by Gartner is to “Improve API security posture by developing a security strategy for threat protection, API security testing, and API access control that uses new approaches and vendor solutions.”

Rather than focusing only on vulnerabilities within APIs, Neosec addresses the problem by first identifying all APIs a company has in use, evaluating their risk posture, and monitoring each for meaningful behavioral anomalies that could involve fraud or misuse. Most companies do not have a complete inventory of their APIs, let alone understand the nature of normal API usage. Few have the ability to monitor their APIs to mitigate loss or detect abuse of business processes, financial assets and data within their APIs.

The Gartner Cool Vendor report states “this research does not constitute an exhaustive list of vendors in any given technology area, but rather is designed to highlight interesting, new and innovative vendors, products and services.”

Neosec’s approach is innovative by bringing XDR techniques to API security including:

  • Broad discovery of APIs through analysis of all API activity
  • Understand the risk posture of every API and identify vulnerabilities or misconfigurations.
  • Detect abusive behavior within API traffic using big data, data analytics and behavioral analysis
  • Investigation and threat hunting of any threats hiding within APIs traffic
  • Response and prevention using customized response playbooks.

“We consider our inclusion in this Cool Vendor report by Gartner as a confirmation of our mission to enable customers to discover, assess, manage and identify potential fraud or misuse of business APIs,” said Giora Engel, co-founder and chief executive officer, Neosec.  “Strategic business initiatives have brought explosive growth to the number of APIs, turning company systems and data inside out. APIs help drive efficiency and effectiveness while producing an alarming potential for loss, risk and abuse.”

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