DeepFactor Secures $ 15 Million in Series A Funding
SAN JOSE, Calif., September 21, 2021 (GLOBE NEWSWIRE) – DeepFactor, the leader in native continuous AppSec observability tools for developers, today announced that it has raised a $ 15 million Series A funding round led by a global private company based in New York. venture capital and venture capital firm Insight Partners. Insight is joined by all existing investors, including Emergent Ventures and Security Leadership Capital, as well as participation from Tricentis, the leading test automation company. With this round, DeepFactor has raised a total of $ 18.4 million to date.
“Start from the left” with a next-generation AppSec platform designed to secure applications at the source
Since launching in September 2020, DeepFactor has empowered engineering teams by providing unprecedented visibility and execution control over an application’s supply chain, security and compliance. The company will use the new funds to continue the development of its revolutionary AppSec Continuous Observability platform, which automatically observes billions of live telemetry events in every thread / process / container to detect anomalies without making any changes to the. application code. The company will further improve the functionality of its products in key areas such as privacy, compliance and CI / CD integration. In addition, DeepFactor plans to introduce a SaaS offering to complement the self-hosted version which is 100% architectured for Kubernetes and can be deployed on EKS, AKS, GKE, EC2 or VMware.
“Companies are creating more and more cloud native applications and need a state-of-the-art AppSec platform that offers a new level of visibility into supply chain, security risks. and compliance. We are enabling developers to ‘start on the left’ with a tool designed specifically for engineering so they can secure at the source, ”said CEO and co-founder Kiran Kamity. “Given the vast resources and experience available at Insight Partners, we are absolutely delighted to work with them as we continue to redefine AppSec for an evolving industry. “
Josh Zelman, vice president at Insight Partners, said, “DeepFactor is in the exciting new space that converges between the software development lifecycle and application security. There is an immediate need for a developer native observability solution for the application layer and the need to identify supply chain, security, privacy and compliance risks early on and during. development is more important than ever. DeepFactor responds to this market need. DeepFactor presents an opportunity to invest in the future of software development, especially considering that the platform benefits engineering teams and AppSec teams. Their management team has a history of success and their technology is a game-changer in this important area. Zelman will also join the board of directors of DeepFactor.
With the push of digital transformation and adoption of DevOps, CI / CD pipelines, Kubernetes, containers and the proliferation of cloud native architectures, organizations are releasing next-generation software applications with greater complexity faster. and more areas to attack. This translates into a significant increase in supply chain, security and compliance risks. AppSec teams struggle to keep pace and need help from engineering teams to build security into the definition of “done” before shipping to production. DeepFactor provides a unique platform specifically designed for today’s modern applications that provides 360-degree visibility into the running application, which legacy AppSec tools are unable to do, making DeepFactor the industry’s first continuous observability platform designed for engineering that enables AppSec at the speed of digital transformation. With DeepFactor, find and correct supply chain, security and compliance risks, both in internal software applications and third-party components, throughout the DevOps pipeline.
“DeepFactor was created for developers by developers, so we understand the application security issues, frustrations and pressures engineering teams feel every day,” explained Mike Larkin, CTO and co-founder. “Our technology can be an all-in-one application security solution for an SMB, or it can bring deeper insight to a company’s existing SAST, SCA, and DAST toolset. Continuous observability is an essential ability to identify risks while the application is running. We give our clients the confidence to say that they not only know what risks could exist, but they know what risks Actually exist during execution.
DeepFactor’s modern AppSec platform offers:
- Supply chain visibility with a software nomenclature (SBOM)
- Visibility of runtime security by identifying system call risks, data risks, and behavioral risks
- Application-aware SCA and CIS by observing the running application to aggregate dependencies and container images
- Simplified DAST Analytics with High-Fidelity Alerts and Actionable Evidence
- Integrations with popular developer tools like Jira, Jenkins, Slack, GitHub, GitLab, CircleCI, CloudBees, etc.
Industry Outlook on the Series A Funding Cycle
“As a leading test automation platform, we at Tricentis believe that the functional and performance testing tools market has strong synergies with the application security testing market,” said Grigori Melnik , product manager at Tricentis. “As we see the number of developers doubling over the next decade to 45 million and the number of cloud native applications growing exponentially, we see a strong market need for a next-generation AppSec platform designed for such applications. DeepFactor’s unique observability-based approach to creating this modern AppSec platform is powerful and refreshing. “
Caleb Sima, Director of Security at Robinhood, also said: “Next-generation applications, especially Kubernetes applications, are the new standard, and these applications need a redesigned, contemporary AppSec tool. It’s amazing how easy it is to drop DeepFactor into a Kubernetes cluster for instant visibility into the app running on each pod.
DeepFactor is the industry’s first continuous AppSec observability platform for cloud-native applications that enables engineering teams to find and remediate supply chain, security, privacy and risk risks. compliance in running applications, including third-party components, within the DevOps pipeline. At the same time, AppSec teams can establish governance and manage alert policies. With zero code changes, DeepFactor automatically observes billions of live telemetry events in every thread / process / container to detect anomalies during testing, preparation, and production. Customers receive unmatched execution insights, extraordinary visibility into the software supply chain, prioritized vulnerabilities with reduced SCA alert volume, enhanced DAST insights, and faster analytics. “Start from the left” and build and manage secure, source-compliant applications with DeepFactor. For more information, visit www.DeepFactor.io and follow us on LinkedIn and Twitter.
About Insight Partners
Insight Partners is a leading global venture and private equity firm investing in high-growth ScaleUp technology and software companies driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies around the world and has raised over $ 30 billion in capital commitments through a series of funds. Insight’s mission is to find, fund and work successfully with visionary executives, providing them with hands-on and hands-on software expertise to drive long-term success. Through its people and portfolio, Insight fosters a culture around the belief that ScaleUp businesses and growth create opportunity for all. For more information on Insight and all of its investments, visit insightpartners.com or follow us on Twitter @insightpartners.