DENVER, Colorado – May 12, 2022 – StackHawk, the company that integrates application security testing into software delivery, has raised $20.7 million in capital co-led by Sapphire Ventures and Costanoa Ventures with participation from Foundry Group and other high-value investors. With this funding, StackHawk will invest in product development to maintain its leadership position in the application and API security testing market for developers and to continue its rapid growth. This latest funding brings StackHawk’s total funding raised to $35.3 million.
Every modern software development organization has moved from quarterly releases to daily or hourly releases, incorporating continuous integration and continuous delivery (CI/CD). In the modern world of FinTech, HealthTech, cloud analytics and AI platforms, customers entrust their most critical data to software providers. Periodic manual security testing by an external team is just too risky. For this reason, modern software development organizations are extending CI/CD to encompass continuous application and API security testing. This way security vulnerabilities are detected while the developer is actively working on the code.
“In today’s world we live in, security is more important than ever. Our prospects know they have gaps in their approach to security and recognize the need for what we do before we even talk to them. said Joni Klipper, co-founder and CEO. “As a leader in this advanced approach to dynamic security testing, market appeal has driven the funding round. We will use the funds to continue investing in our product to maintain our leadership and significantly increase funding for marketing, sales and partnerships. Our recently announced Snyk integration, which is already driving value with joint customers, is a prime example. »
Forrester Research reported that web application and API exploits are the most common form of external attack affecting organizations today. To better protect against these threats, 43% of global security decision makers seek to implement dynamic application security testing during software development. As a result, Gartner expects global application security testing (AST) end-user spending to exceed $3.1 billion in 2022.
To learn more about StackHawk’s funding cycle and approach to developer-focused application and API security testing, visit stackhawk.com.
StackHawk integrates application security testing with software delivery. The StackHawk platform makes it easy for engineers to find and fix application security bugs at any stage of software development. With a strong founding team that has deep experience in security and DevOps, and some of the best venture capitalists in the industry, StackHawk puts application security testing in the hands of engineers. Learn more and sign up for a free trial at www.stackhawk.com.