ArmorCode announced it has secured an additional $8 million in
seed financing led by Cervin
Ventures with participation from Sierra Ventures that lead
the previous round of funding, Tau
Ventures, and several prominent Cybersecurity leaders, including
founders of Demisto and RedLock, bringing the total seed round to $11 million.
The company will use these new funds to extend its AppSecOps platform
capabilities and expand the company's go-to-market efforts.
The ArmorCode AppSecOps platform is the 10X AppSec Force
Multiplier that enables organizations to ship securely and ship fast.
Providing security and development teams with the visibility, actionable
insights, automation, and integration needed to build, deliver and scale an
effective and efficient AppSec program across the entire organization, while
reducing cyber risks and exposure. After launching
in 2020, the company has received tremendous response from the market, signing
up customers such as Guardant Health, and Shutterfly.
"ArmorCode is an early entrant in the
AppSecOps space. Agile DevOps, Cloud Deployment, Microservices, and Open Source
have all dramatically accelerated application delivery and complexity. The security of these applications is paramount and that's
where ArmorCode provides immense value," said Preetish Nijhawan, Co-Founder and
Managing Partner, Cervin Ventures. "ArmorCode is led by a veteran team,
who have worked together in the past, doing pioneering work in the security
software space and have already signed some leading enterprise customers. We
are excited to partner with Nikhil and his team on their journey."
Today's AppSec teams, outnumbered
by as much as 100:1 by developers, depend on a collection of point security
products and siloed manual processes. This leaves them struggling to gain the
visibility, insight, and process scale needed to identify and protect the
always changing and ever-growing application risk surface.
"ArmorCode gives
us insight into our security posture across all applications, APIs, and
microservices in our environment, allowing us to avoid blind spots and improve
security," said Sitaraman Lakshminarayanan, Director Security Architecture from
Guardant Health. "Having this additional insight along with workflow automation
significantly reduces our costs associated with fixing vulnerabilities and
allows us to provide a safe and secure service for our customers."
"Enterprise
applications have created a new set of security challenges, leaving the door
wide open for cyber risks and attacks. The ArmorCode AppSecOps platform, with
its 80+ out of the box integrations, simplifies the process of shipping
applications securely with a single platform, consolidating insights from
multiple AppSec tools, and scaling the DevSecOps processes needed to keep up
with and manage risk," said Nikhil Gupta, co-founder, and CEO of ArmorCode.
"With this new funding we will expand our leadership position. We will invest
in go-to-market initiatives to democratize application security and enable
organizations of all sizes to ship applications securely and ship them fast."