Ox Security, a platform that scans for vulnerabilities in AI-generated code, has raised $60 million in a Series B funding round, as tech companies increasingly push developers to adopt generative AI tools. The round, led by DTCP, brings Ox's total funding to $94 million and highlights the growing need for secure AI-generated code.

The New York- and Tel Aviv-based startup, founded by Neatsun Ziv and Lior Arzi in 2021, models risk across both AI- and human-produced code. Ox's platform is designed for both security teams and developers, offering tools to scan code in applications and secure a company's broader supply chain. The platform can model threats, recommend fixes, and assist with code reviews, generating executive reports that highlight breaches and possible reasons they occurred.

Ziv, a software and IT engineer by trade, emphasized the importance of Ox's platform in the era of "vibe coding," where AI-generated code is becoming increasingly prevalent. "Over the past year, AI has significantly transformed software development," Ziv said. "While these tools accelerate development for both experienced developers and beginners, they often lack the critical thinking and judgment needed to catch subtle security flaws … Ox frees up developers' time, allowing them to focus on innovation, while simultaneously improving the organization's overall security posture."

Ox's platform is already analyzing over 100 million lines of code daily for around 200 customers, including eToro, SoFi, and two of its investors, Microsoft and IBM. The startup's customer base spans from Fortune 10 companies to small- and medium-sized businesses, as well as military and government entities.

The new funding will be used to drive growth and expansion as Ox competes for market share against rivals such as Snyk, Veracode, Synopsis, and Checkmarx. Ox is generating around $10 million in annual recurring revenue, a figure Ziv anticipates will double by the end of the year. The startup plans to be cash-flow-positive within the next 2-3 years.

Ziv emphasized the importance of positioning Ox for long-term success, saying, "We want to position ourselves for long-term success and this way we can focus on scaling and reaching our bigger goals. We've seen significant growth in revenue, and received offers that give us the opportunity to make a leap forward. We felt it was the right time to take this step for the company."

The funding round, which includes participation from IBM Ventures, Microsoft, Swisscom Ventures, Evolution Equity Partners, and Team8, underscores the growing importance of securing AI-generated code. As AI-generated code becomes more prevalent, the need for platforms like Ox's will only continue to grow, highlighting the critical role Ox will play in shaping the future of secure software development.