Intuit announced today it has completed the acquisition of Imvision, a market leader in API security technology for enterprises. Based in Israel, Imvision develops technology that enables enterprises to automatically discover, test and protect against attacks, by monitoring API traffic to identify threats and vulnerabilities. Terms of the transaction have not been disclosed.
Founded in 2014 by Sharon Mantin, Yossi Barshishat and Eli Plotnik, Imvision’s platform is able to auto-discover APIs based on network traffic, classify them using machine learning, identify data exposure, and detect anomalous user and data activity.
By implementing Imvision’s solution across Intuit’s technology platform and products, the company will accelerate its fraud fighting impact across the most critical touch points of its products for more than 100M consumer and small business customers.
“Intuit is committed to providing end-to-end security across our platform. Imvision is a best-in-class security solution provider and we are delighted to welcome them to Intuit. With Imvision, we will continue to advance our fraud prevention solutions and broaden security for Intuit’s customers, products and data.” said Atticus Tysen, Chief Information Security Officer at Intuit.
“This is an exciting addition to Intuit’s Israel team, our third acquisition here,” said Gene Golovinsky, GM, Intuit Israel & VP Security Research & Development. “We selected Imvision after searching for a proven technology that can meet the large-scale demands of our technology and customer base. Imvision’s technology complements and strengthens our investment in API-based security, and it aligns with our site’s core focus.”
“In the API-first era, preventing fraud is one of the biggest challenges for businesses and consumers alike. Joining Intuit gives us the perfect opportunity to take our technology to the next level, and protect customer’s data and activity at scale far beyond what we’ve ever imagined” said Sharon Mantin, Imvision CEO. “Together with Intuit, we’re thrilled to advance our commitment to enabling organizations to open up without being vulnerable.”
As the technology landscape continues to evolve, the importance of preventing fraudulent attacks continues to rise. Securing applications has become more than a technical solution or a product. It requires effective planning to stay on top of development cycles, working across teams to reduce risk, and effectively communicating potential risks to the business. Application security must be reimagined in an API-first world, where applications are living, breathing, and constantly growing. By acquiring Imvision, Intuit will integrate security at the platform level, ultimately protecting the most critical touch points of Intuit’s products for all customers.