- ArmorCode strives to empower security teams to enable organizations to deliver secure software rapidly.
- The platform integrates application security tools, streamlines processes, enhances business agility, and boosts developer productivity.
ArmorCode Inc., a startup specializing in application security operations, recently revealed the successful completion of a USD 40 million Series B funding round. The funds will be utilized to further its goal of assisting businesses in quickly and widely releasing secure software.
ArmorCode was established in 2020 with the goal of “supercharging security teams” to enable businesses to release secure software quickly. This is accomplished by turning AppSec into a scalable and economical procedure that secures applications at the point of delivery.
The platform integrates various application security tooling, simplifies application security procedures, enhances business agility, and boosts developer efficiency to enable companies to manage complex application security environments effectively, as stated by the company. It incorporates application security posture management, streamlining AppSec operations by offering a centralized overview of all security findings spanning application and infrastructure security.
Nikhil Gupta, Co-founder and Chief Executive said, “Today, every company is a software company and the imperative for faster software delivery has unfortunately come at the expense of security. We are fixing that problem. Siloed tooling generates a massive number of security alerts across applications, infrastructure, cloud and the supply chain, and security teams need a single platform to view and triage these vulnerabilities so they can keep pace with the speed of software delivery.”
At this time, ArmorCode is experiencing strong growth. From an undisclosed base, the company’s revenue has increased by 400% yearly, and 25% of its clientele are now Fortune 500 companies. Noteworthy clients encompass Shutterfly Inc., SnapFinance LLC, Guardant Health Inc., S and P Global Inc., Pacific Investment Management Co. LLC, and Snapdocs Inc.
HighlandX Capital Management LP led the new funding round, including participation from Ballistic Ventures Partners LLC, NGP Capital Partners LP, Sierra Ventures LP and Cervin Ventures LLC. Corey Mulloy, Managing Partner of HighlandX, will join ArmorCode’s board as a part of the agreement.
ArmorCode intends to allocate resources towards enhancing its go-to-market strategy, expanding its product and engineering teams, anticipating a team growth of over 20%. Also, the company aims to augment its revenues through the establishment of new partnerships and expansion in the European market. Not only this, there are plans to introduce several advanced artificial intelligence and software supply chain capabilities to leverage the processing of 4 billion findings on its platform. This initiative empowers organizations to prioritize risks and automate triaging and remediation workflows.
With the latest funding infusion, ArmorCode has amassed around USD 65 million in total funding to date, as per Tracxn data. This figure encompasses a previous funding round of USD 15 million in November 2022.