Zip Security, a dynamic cybersecurity firm, recently announced the closure of a significant funding round at $7.7m.
This ambitious company, known for its robust security solutions, has successfully raised $7.7m in a round co-led by industry heavyweights General Catalyst and Human Capital, with additional participation from BoxGroup. These investors, renowned for their portfolios which include Stripe, Gusto, and Hubspot, signal strong confidence in Zip’s approach to cybersecurity.
This fresh injection of capital will fuel Zip Security’s mission to expand its innovative software product. Currently focusing on cloud-based identity management, device management, and endpoint threat detection, the funding will enable the integration of advanced features such as device trust, automated patch management, and identity threat detection.
Zip Security has carved a niche in protecting businesses across various sectors, including defense, health, software, and finance. In an era where smaller businesses face increasing cyber threats, Zip’s solutions are more relevant than ever. The FBI’s 2022 Internet Crime Report highlighted the stark reality: losses due to cybercrime exceeded $10.3bn, underlining the critical need for robust cybersecurity measures, especially for smaller, tech-forward companies.
“Most organizations do not have the ability to invest in cybersecurity like a Fortune 500, but the burden is increasingly on them to do so. These businesses with no security team or small security teams remain targets because of their access to critical information and because they remain underserved by the industry. Our mission is to protect those businesses and their customers’ data by making cybersecurity affordable and accessible,” Zip Security CEO and Co-Founder Josh Zweig said.
Users of Zip’s software, ranging from beginners to seasoned security professionals, praise its efficacy. For instance, Chad Brustin, Director of Information Security at Finfare, lauded Zip’s platform for its swift and comprehensive endpoint protection and compliance capabilities.
General Catalyst’s Quentin Clark shared his enthusiasm, stating, “Cyber threats don’t discriminate; all businesses, large and small, can face breaches and ransomware issues. Zip is bringing simplicity to security and has created a product as dynamic as the landscape demands. General Catalyst is excited to support Josh, Gabbi, and the team on their journey to shape the future of enterprise security.”
The founding team of Zip Security, including Josh Zweig and Gabbi Merz, both alumni of Palantir Technologies with experience in securing US government systems, along with other U.S. government and Palantir veterans, is committed to leveraging this funding to enhance their team and product.
“We are excited to use this funding to build out our team and product in service of our customers, providing them best-in-class security so that they can spend their time and resources where it matters most: on their mission,” CTO and Co-Founder Gabbi Merz says.
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