Endor Labs, a trailblazer in software supply chain security, recently announced a strategic investment from Citi Ventures.
This investment marks another significant milestone for Endor Labs, following a $70m oversubscribed Series A financing round less than a year ago, featuring prominent investors such as Lightspeed Venture Partners (LSVP), Coatue, and Dell Technologies Capital among others.
Founded in 2022 by Varun Badhwar and Dimitri Stiliadis, Endor Labs aims to address a critical, yet often overlooked, need in application security. The company’s core mission revolves around helping development teams manage and secure the myriad of dependencies used in application development, from Open Source Software (OSS) and LLMs to containers and tools in CI/CD pipelines. By identifying and addressing meaningful risks, Endor Labs empowers teams to fix vital issues without being overwhelmed by uncontextualized alerts.
Varun Badhwar, CEO and co-founder of Endor Labs, emphasized the growing importance of software supply chain security. “Financial institutions employ tens of thousands of developers, and often outpace technology companies with innovation and shipping new applications.
“Software supply chain security is now a board-level concern for these organizations, because ignoring it or getting it wrong not only exposes the organization to significant risk, but costs hundreds of millions in lost developer productivity. Endor Labs already serves some of the largest financial institutions in the US, and our work with Citi gives us even better insights into how to solve problems at this scale.”
Matt Carbonara, Head of Enterprise Tech Investing at Citi Ventures, said, “Citi runs one of the largest software development organizations in the world. At this scale, lost productivity due to false positive alerts is a compounding issue. Endor Labs integrates seamlessly into the developer workflow and helps pinpoint supply chain risks that may affect our business.”
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