Intuit, the American financial software and services company, is acquiring Israeli security startup Imvision for a reported $50 million. Founded in 2014, Imvision is a market leader in API security technology for enterprises, enabling them to easily discover, test, and protect against attacks by monitoring API traffic to identify threats and vulnerabilities. Driven by natural language processing (NLP) technology, Imvision’s platform auto-discovers APIs based on network traffic, classifies them using machine learning, identifies data exposure, and detects anomalous user and data activity. When implemented across Intuit’s technology platform and products, the company hopes to more quickly combat and prevent fraud for its millions of consumer and small business customers.
Intuit is best known for its QuickBooks suite of accounting software and user-friendly TurboTax tax preparation software, but the company has expanded its industry footprint with several high-profile acquisitions. In recent years, the company has added the offerings and solutions of Credit Karma, TradeGecko, and Mailchimp to its portfolio. With the acquisition of Imvision, Intuit plans to integrate its security solutions at the platform level to protect the most critical touch points of its products for all customers.