Cycode Raises $56M Series B To Help Secure Software Supply Chains

Nov 30, 2021•over 3 years ago

Round Type

series b

Description

Cycode, a startup that helps businesses secure their DevOps pipelines and software supply chains, today announced that it has raised a $56 million Series B funding round led by Insight Partners. YL Ventures, which led the company’s seed round, also participated in this round, which brings the total investment into the company to $81 million, including the $20 million Series A round it announced about half a year ago.

Company Information

Company

Cycode

About

The company argues that this is one of the largest funding rounds in the application security space. In part, that’s surely driven by the fact that the company was also able to show its investors some impressive growth numbers, with its ARR increasing 7x in the first three quarters of this year. Levy noted that this now allows the company to think like an attacker by being able to identify issues across a company’s software pipeline instead of only focusing on individual services. Cycode currently has just under 60 employees, with plans for doubling that by the middle of next year, including an expanded sales and marketing team in the U.S.Cycode raises $4.6M seed round to keep your source code safe