Nudge Security has recently announced the successful closure of its seed funding round, bringing in a total of $16.5m.
The investment comes from Forgepoint Capital, joining Ballistic Ventures in supporting the rapid growth of this innovative startup.
Nudge Security’s patented approach to SaaS discovery and observability offers comprehensive visibility and governance over every SaaS and cloud asset utilized organization-wide. This becomes increasingly crucial in today’s digital landscape, marked by the widespread adoption of Generation AI technologies and heightened risks within the digital supply chain.
Alberto Yépez, Co-Founder and Managing Director of Forgepoint Capital, expressed excitement about the partnership, stating, “With its patented, turnkey approach to SaaS discovery and observability, Nudge Security offers complete visibility and governance over every SaaS and cloud asset ever used organization-wide – a critical need especially with the explosive adoption of GenAI and increased digital supply chain risks.”
Since emerging from stealth mode, Nudge Security has experienced remarkable growth, boasting an average of 115% quarter-over-quarter revenue growth and acquiring over 100 customers within just 18 months. The company has identified over 38,000 unique SaaS applications within customer environments, underscoring the extent of SaaS sprawl prevalent in most organizations. Notable clientele includes leading cloud-native entities and forward-thinking IT and security teams across various sectors such as financial services, healthcare, biotechnology, and entertainment.
Russell Spitler, Co-Founder and CEO of Nudge Security, highlighted the company’s success, stating, “The enthusiasm from customers has been phenomenal. We are clearly addressing an acute source of pain for modern security teams in a way that is scalable and enables them to help drive the business forward rather than slowing things down with arcane IT governance processes.”
With the new investment, Nudge Security plans to continue its rapid pace of product innovation, having shipped 43 feature releases in the last 12 months alone. The funding will also support the scaling of their go-to-market strategies, further cementing their position as trailblazers in the SaaS security and governance landscape.
Roger Thornton, Co-Founder and General Partner at Ballistic Ventures, expressed confidence in Nudge Security’s trajectory, stating, “Nudge’s exceptional team and relentless innovation are propelling a groundbreaking approach to SaaS security and governance that actually empowers the modern workforce.”
In addition to addressing the challenges posed by generative AI, Nudge Security leads the market with its innovative SaaS security capabilities, including patented SaaS discovery, third-party risk management, SaaS identity management, and SaaS governance.
Nudge Security’s commitment to innovation and security underscores its position as a frontrunner in the ever-evolving realm of SaaS security and governance.
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