Hello! 🙋We have the following updates for you today! 📣
- Security firm Semgrep raised a $53M investment to grow the security platform
- AI-based cybersecurity platform Coro raises $80M to reach a valuation of a $575M
Semgrep Raised a $53M Investment to Grow the Code Security Platform
Semgrep is a startup that focuses on security by removing code vulnerabilities throughout the development process before they reach production.
Recently, the company raised $53 million in Series C funding led by Lightspeed with Felicis, Redpoint, and Sequoia. The company has raised a total of $93 million to date.
Semgrep is a rapid and static analysis engine for finding bugs, detecting dependency vulnerabilities, and enforcing code standards across the stack, including the infrastructure layer, which includes Terraform, Docker, Kubernetes, nginx, the CI/CD environment, code changes, and so on.
As per its site, the platform is adopted by some large organizations such as Gitlab, Slack, Dropbox, Shopify, etc.
Currently, the company’s user base is around 2 million, and its revenue-producing products grew 7.5x last year, indicating that developers and organizations are adopting Semgrep to keep the code base safe.
AI Cybersecurity Firm Coro Raises $80M to Reach a Valuation of a $575M
Coro is an AI-based cybersecurity platform to resolve cybersecurity challenges that raised $80 million in Series C2 funding from Energy Impact Partners, known for green-tech investments. Israel founded Coro’s current valuation stands at $575 million.
It is a cloud-based cybersecurity technology that provides unified threat protection across users, devices, email, cloud apps, and data, as well as comprehensive defense with no impact on your IT resources.
It’s a comprehensive protection for Malware and Ransomware, Phishing, Hacking and access control, Insider threats, Data loss, and governance.
Coro’s AI anticipates risk and automatically discovers and addresses issues, saving you valuable time. The most known cyber dangers and vulnerabilities are immediately identified and remedied.
Some industry leaders associated with the company are Cisco, T-Mobile, Lenovo, Bitdefender, Techcrunch, and many more. The company started in 2015 and has been generating 300% recurring revenue in the last four years, and its target customers are mid-market companies.
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