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Nokod Security announced an $8 million seed round on June 29, 2023, to build its U.S. presence, expand research and development, and study security vulnerabilities in low-code/no-code (LCNC) applications. The Tel Aviv-based company sells security software intended to help enterprises discover and govern apps and automations built on platforms such as Microsoft Power Apps, UiPath and ServiceNow.
What Nokod’s $8 million seed round was for
Nokod named Acrew Capital, Meron Capital and Flint Capital as investors in the seed financing. The company said it would use the proceeds to establish a U.S. presence, expand its R&D teams and research LCNC security vulnerabilities. The announcement did not disclose a company valuation, revenue, or customer count.
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At the time, Nokod also cited forecasts to explain the opportunity. Its 2023 announcement quoted a Gartner prediction that 65% of the IT market would adopt low-code/no-code and RPA by 2024; that was a forecast, not a later measurement of adoption. The release also cited a projected $148.5 billion LCNC development-platform market by 2030 and a 27.8% CAGR, as well as a global cybersecurity-market value of $163.53 billion in 2019 and a forecast of $430.46 billion by 2030. Those are figures attributed in the company release to GlobeNewswire and NextMSC, respectively, not Nokod results or current market measurements. SecurityWeek’s 2023 report covered the financing and the market thesis.
Why low-code and no-code apps create a security gap
LCNC platforms let employees build applications with limited traditional coding, while robotic process automation (RPA) tools automate workflows. This speeds delivery, but it can also put business-critical apps and automations outside the processes security teams use to track and assess conventional software. As more teams build their own tools, organizations need visibility into what exists, how it is configured, what data it can access and whether it meets policy.
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Nokod’s stated premise is that the security features built into a platform do not necessarily provide an organization with a complete view across its custom apps and automations. The company positions its product as an additional security and governance layer across those assets, rather than as a replacement for the underlying platforms.
What Nokod’s platform does
In its May 2, 2024 general-availability announcement, Nokod described a platform for security threats, vulnerabilities, compliance issues and misconfigurations in LCNC applications and RPA. The company lists integrations with Microsoft Power Apps, UiPath, ServiceNow and Salesforce, among other platforms. Nokod’s general-availability announcement describes the product’s launch and intended capabilities.
Discovery and inventory
The platform is designed to discover LCNC apps and RPA automations and maintain an up-to-date inventory. That inventory is the starting point for oversight: a security team cannot assess or govern assets it does not know are present.
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Assessment, policy and reporting
Nokod describes continuous security, compliance and threat assessment, alongside uniform policy enforcement and governance reporting. Its solution brief names example issues including hardcoded secrets, data leakage, injection vulnerabilities and unpatched applications or components. These are categories the product says it can identify; the public materials do not provide independent efficacy testing or quantified detection rates. Nokod’s solution brief outlines the approach and examples.
Remediation and workflow integrations
The product is intended to give citizen developers clear remediation instructions and offer automated remediation options. It can also send follow-up actions into SIEMs, ticketing systems or audit reports, according to the company’s materials. Nokod’s stated approach is to let app creators fix issues where possible while keeping security teams informed when their help is needed.
Deployment model
The solution brief characterizes the platform as agentless: organizations register platforms using API keys, and Nokod maps the resulting platform data into a platform-agnostic representation. This describes the vendor’s deployment model; the materials do not establish how much configuration or ongoing operational work a particular customer would need.
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Which platforms does Nokod support?
Nokod’s general-availability materials name Microsoft Power Apps, UiPath, ServiceNow and Salesforce, plus other platforms. The public description does not provide a complete, dated integration matrix or explain whether every feature works identically across each integration. An organization evaluating coverage should confirm that its specific platform, edition and asset types are supported.
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The raise indicates that investors backed Nokod’s plan to build a business around enterprise LCNC and RPA security. The company announcement also said Nokod was in discussions with Fortune 500 companies, but it supplied no customer names or conversion figures. That statement is not evidence of signed deployments or customer outcomes.
The cited materials do not report pricing, audited revenue, valuation, independently verified customer counts, breach reduction, or comparative performance against competing products. They describe intended capabilities and integrations, but do not provide a like-for-like benchmark or customer performance metrics. For an enterprise buyer, those unanswered questions belong in product evaluation and procurement rather than being inferred from the seed round.
Who founded Nokod Security?
Co-founder and CEO Yair Finzi previously co-founded and led SecuredTouch, which was later acquired by Ping Identity. Co-founder Amichai Shulman was previously a co-founder and CTO of Imperva. The round’s named investors were Acrew Capital, Meron Capital and Flint Capital. Investor participation and founder backgrounds provide context, but do not by themselves verify product effectiveness or commercial traction.
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