Grip Security, a SaaS security platform, raises $19 million in Series A funding.

Grip Security is a Tel Aviv-based firm that helps businesses protect their data in SaaS apps. It has raised $19 million in a Series A funding round headed by Intel Capital. This round also included YL Ventures, which led the company’s $6 million seed round earlier this year, bringing Grips’ total funding to $25 million.

Grip is still a young company, and selling into the enterprise is difficult. The team was still able to show investors significant development, especially for a firm that was only officially created in February, according to Grip CEO and co-founder Lior Yaari.

He also mentioned that the number of consumers covered by the product increased tenfold every quarter. Grip has also picked up a diverse range of customers in the last nine months, including Fortune 500 companies and small businesses.

“I remember the old days, in our pitch, we explained the problem space and how SaaS is growing — and it shifted to a point where we only ask: how do you solve it today? Everyone I meet has an answer.”

Lior Yaari, CEO and Co-founder, Grip
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