Semgrep, a code security solution designed for engineering-centric security programs, has raised $53m in a Series C funding round.
The round was led by Lightspeed Venture Parnters and saw participation from Felicitis Ventures, Redpoint Ventures and Sequioa Capital. This round brings the total capital raised to $93m.
Semgrep is designed for engineers – software and security alike – who need to maintain a fast cadence of software development and solve the root causes of security issues. The firm uniquely enables developers at all levels and security teams to customize their code scanning, which results in ROI significantly beyond that of traditional code scanning tools.
The company said it solves these challenges with its engineer-centric approach: surfacing security findings during software development that are relevant to a given engineer. Once findings are presented, engineers can easily remediate, edit noisy rules, and provide feedback to the security team to strengthen security policies, thus making the security process collaborative.
Semgrep will use the new capital to invest in its product roadmap, expand its sales and growth marketing efforts as well as expanding internationally.
Alongside the funding, the company recently changed its name from r2c to Semgrep. The firm said that this rebrand is recognition of Semgrep as the technology layer that is underpinning the company mission now and going forward.
Semgrep CEO and founder Isaac Evans said, “Our users are looking for complete security solutions rather than point solutions. This round of funding will enable us to extend our application security platform to cover the entire modern development process, all built on top of the Semgrep engine, so as to profoundly improve software security and reliability for all.”
Cerbos, an adaptive authorisation software firm, has recently secured $7.5m in a seed funding round and launched Cerbos Cloud.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
