Tel Aviv, Israel, London, UK, and New York, U.S.A-based provider of Cloud-Native application security platform, Apiiro raised USD 100 million in recent funding. The Series B round took place on November 3, 2022. General Catalyst led the financing for the firm. Meanwhile, the round saw participation from Greylock and Kleiner Perkins.
Purpose of financing for Apiiro
With the latest capital injection from Series B financing, the company intends to accelerate the business.
It also has plans to advance the company’s mission to empower developers and application security engineers. The professionals can further proactively fix risks before releasing them to the cloud with all the context they need in a single solution.
What the company’s official has to say
Speaking on the recent development, Idan Plotnik, co-founder and CEO of Apiiro, said, “The unrelenting demand for next-generation application security solutions has allowed us to deploy our product at scale with leading Fortune 500 customers.”
He further added, “Early innovation enabled us to grow faster and more efficiently than the competition. We are building the company for hyper-growth. The combination of our team, business momentum, as well as support from top-tier investors positions Apiiro to continue to lead a growing industry.”
What the lead investor has to say
Quentin Clark, Managing Director at General Catalyst, further said, “In this economy, it’s important to invest in technology that helps companies drive business growth. Idan, Yonatan as well as the Apiiro team are giving customers a solution to a whole problem – not just a piece of it. They are going beyond providing tools for developers to address potential security issues in the code base and actually delivering an operational platform that workflows those fixes in the context of how a company is configuring and deploying software. This approach has driven phenomenal growth to date, which comes from strong execution with the right team at the right time.”
About the company
In July 2018, founders Idan Plotnik and Yonatan Eldar launched the company. Apiiro introduced a completely new approach to application security in the cloud. It provided complete visibility into code bases, assessing risks from design to code to cloud and proactively fixing actual risks that attackers can exploit before releasing to the cloud.
This enables Fortune 500 companies to reduce operational costs as well as risks at scale with seamless deployment by connecting to their source control managers via API.
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