Application security management platform Code Dx has received a $2m investment from DataTribe, an investment firm focused on the cybersecurity space.
The investment came as a reward for Code Dx winning the second-annual DataTribe Challenge.
With these new funds, Code Dx is looking to scale up its sales and marketing activities and grow its footprint in the market.
Code Dx was created on the idea that application vulnerability management should be a fundamental step of the software development process. The Code Dx solution assesses the security risks of an application at three levels: the native code, third-party components and the infrastructure where the application resides.
Its automated tool helps teams to prioritize and manage vulnerabilities by integrating into a company’s application lifecycle system.
Code Dx CEO Anita D’Amico said, “Code Dx anticipates major growth in the next two years, significantly accelerated by this seed investment from DataTribe. We intend to use this investment to reach and acquire more global customers and to expand our tech support to them. We will also be able to develop and release new product features in a faster manner.”
DataTribe has backed several cybersecurity startups this year. Strider, a risk intelligence platform which aims to ‘illuminate economic espionage’ recently closed a $2m round led by DataTribe.
Another recent investment from the firm was a contribution to the $10m Series A of Prevailion, which aims to change how firms approach risk mitigation.
Copyright © 2018 RegTech Analyst
