ArmorCode, a leader in AppSecOps, has raised $14m in a Series A funding round headed by Ballistic Ventures.
The round also saw participation from Sierra Ventures, Cervin and industry investors such as the former CEO of AT&T Communications John Donovan.
According to the Purple Book Community’s recent survey, 60% of organizations prioritise speed over security when releasing software. This is a problem, as there are 100 or more developers for every application security engineer, making it hard for them to keep pace with the speed of software releases.
With businesses prioritising shipping applications fast, it leads many applications to launch without the necessary security checks and leaves organizations vulnerable.
ArmorCode claims its platform is able to solve this problem by delivering a unified view into customers’ AppSec posture, vulnerability, and compliance management as well as into their development, security, and operations workflow automation.
ArmorCode CEO and co-founder Nikhil Gupta said, “The need for applications to ship fast, secure, and compliant has become more critical than ever. This funding, and being able to close it in only two weeks, provides further evidence of the importance of improving AppSec and breaking down the silos separating development, security, and operations.
“This funding will help our business scale as we provide the industry-leading AppSecOps platform and enable more organizations to secure their AppSec posture.”
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Copyright © 2018 RegTech Analyst
