Application security startup Apiiro raises $100m Series B funding round to accelerate growth

Application security startup Apiiro raises $100m Series B funding round to accelerate growth

Published: 04-11-2022 08:51:00 | By: Pie Kamau | hits: 4550 | Tags:

Apiiro, the pioneer in Cloud-Native Application Security, announced a significant Series B round of $100 million led by General Catalyst with participation by Greylock and Kleiner Perkins.

The new funding will be used to accelerate the business and advance the company’s mission to empower developers and application security engineers to proactively fix risks before releasing to the cloud with all the context they need in a single solution.

With more companies shifting to agile development and adopting CI/CD practices to release code to the cloud on a daily basis, there is an exponential increase in the number of changes. This creates a massive market opportunity to help CISOs and CIOs effectively and contextually identify, prioritize and eliminate risks in their code and development environments to prevent application and software supply chain threats using one solution.

Quentin Clark, Managing Director, General Catalyst: “In this economy, it’s important to invest in technology that helps companies drive business growth. Idan, Yonatan and the Apiiro team are giving customers a solution to a whole problem – not just a piece of it. They are going beyond providing tools for developers to address potential security issues in the code base and actually delivering an operational platform that workflows those fixes in context of how a company is configuring and deploying software. This approach has driven phenomenal growth to date, which comes from strong execution with the right team at the right time.”

Apiiro has introduced a completely new approach to application security in the cloud by providing complete visibility into code bases, assessing risks from design to code to cloud and proactively fixing actual risks that attackers can exploit before releasing to the cloud. This enables Fortune 500 companies to reduce operational costs and risks at scale with seamless deployment by connecting to their source control managers via API.

There are several isolated and unrelated findings hiding across code, configurations, open source packages and cloud infrastructure that when pulled together with relevant context, creates a “risk story” that is exploitable by attackers. Apiiro’s Risk Graph technology connects these infinite factors with actionable context to offer a completely new way for developers and security teams to fix risks.

Idan Plotnik, Co-founder and CEO, Apiiro: The unrelenting demand for next generation application security solutions has allowed us to deploy our product at-scale with leading Fortune 500 customers. Early innovation enabled us to grow faster and more efficiently than the competition, and we are building the company for hyper growth. The combination of our team, business momentum, and support from top-tier investors positions Apiiro to continue to lead a growing industry.”