The funding will help GitGuardian enhance its code vulnerability identification capabilities. Here are the top-line bullets you need to know.
GitGuardian, a code security platform provider, has raised $44M in a Series B round that drew participation from Bpifrance, Sapphire Ventures, Eurazeo, Fly Ventures, and Balderton Capital.
HOW’S THE COMPANY PERFORMING?
- France-based GitGuardian enables developers to analyze their public GitHub repositories in order to determine whether they contain sensitive company information — i.e., secrets.
- GitGuardian, which has over 300 detectors monitoring data in public and private repositories in real time, has completed 131,000 installs on the GitHub Marketplace. The company reported uncovering 2M secrets in 2020 – up 20% year-over-year.
- Instacart, Genesys, Talend, Datadog, Mirantis, Automox, and Maven Wave are included among the company’s client base.
- The company’s revenue has quadrupled each year for the past 2 years, and it is expected to quadruple again in 2022.
- GitGuardian currently has 60 employees.
Source: GitGuardian
WHY DOES THE MARKET MATTER?
- The global cybersecurity market is expected to reach a value of $352.3B by 2026, growing at a CAGR of 14.5%, according to Mordor Intelligence.
- Cybersecurity startups raised $12.5B across 381 deals in H1’21, up from $11.2B across 656 deals over all of 2020.
- The rising frequency, complexity, and severity of cyberattacks have contributed to market growth.
Want to see more research? Join a demo of the CB Insights platform.
If you’re already a customer, log in here.
