Maverick Ventures leads $11.5m investment in BlueFlag Security


BlueFlag Security, a software development lifecycle (SDLC) security firm, has announced an $11.5 million seed funding round.

The round was led by Maverick Ventures and Ten Eleven Ventures, with Pier 88 Investment Partners also participating. This financial injection is earmarked for the advancement of BlueFlag’s innovative SDLC security and governance platform, which promises comprehensive, identity-centric protection from the coding phase through to production.

At a time when software supply chain attacks are escalating, the significance of a holistic approach to SDLC security cannot be overstated. Traditional security measures have often focused on defending against risks in open-source software or developer tools, neglecting the critical threat vector posed by developer identities, both human and machine. These identities can introduce vulnerabilities through excessive permissions, poor identity hygiene, and risky account behaviour, among others. BlueFlag Security is disrupting the status quo by emphasising the paramount importance of identity security, coupled with a unified risk perspective throughout the SDLC, to thwart software supply chain attacks.

The company, founded by Raj Mallempati and Ken Schneider, is dedicated to offering a multi-layered defence platform that marries identity security with open-source software risk management and developer tool posture management. The aim is to foster a secure, efficient, and dependable development environment, where protection of identities is as stringent as that of the code and tools themselves.

BlueFlag Security’s CEO, Raj Mallempati, emphasised the company’s vision, stating, “Our mission is to provide developers with a clean, trustworthy environment. The BlueFlag platform doesn’t just add another layer of protection; it introduces a fundamentally different philosophy that places identity security at the heart of SDLC security and governance. We invite the industry to join us in championing a future where software development is inherently secure, and where securing developer identities is as integral to our protocols as code scanning and the configuration of developer tools.”

The funding will enable BlueFlag Security to further develop its platform, which leverages AI-driven insights and an identity-first approach to deliver a comprehensive solution for SDLC security. This encompasses continuous compliance with secure by design principles, extending beyond code to include developer identities and tools, thereby offering a holistic view of risk within the SDLC.

Dr. Chase Cunningham and Prabhath Karanth, prominent figures in cybersecurity, have praised BlueFlag Security for its innovative approach and comprehensive solution to SDLC security, underscoring the platform’s potential to mitigate risks, ensure regulatory compliance, and promote a trust-based development environment.

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