Navigating the complex world of cybersecurity, Legit Security has solidified its stance with a groundbreaking funding achievement. The enterprise has impressively closed its Series B funding round, amassing a whopping $40 million. Spearheading this round is CRV, with loyal investors like Cyberstarts, Bessemer Venture Partners, and TCV ensuring their continued support.
Unlocking Application Security
Legit Security’s claim to fame is its revolutionary Application Security Posture Management (ASPM) platform. This avant-garde platform is adept at mitigating application risk right from the code’s inception to its cloud deployment. It accomplishes this by streamlining the discovery, analysis, correlation, and, crucially, the remediation of application vulnerabilities.
The highlight is its real-time visibility, which grants security oversight across fluctuating development backdrops. With its prowess, the platform consolidates vulnerabilities from diverse origins, enforces stringent security protocols, and elevates risk prioritization.
Stellar Client Base
Boasting a clientele of powerhouse brands like Google, NYSE, Kraft Heinz, and Takeda Pharmaceuticals, Legit Security’s platform has been embraced by industry leaders. The statistics are indeed promising. According to internal reports, platform deployments have surged, nearly doubling in size within their inaugural year across all its clients.
Roni Fuchs, the vision behind Legit Security and its current CEO, shared insights with Calcalist, emphasizing their rapid business expansion. He stated, “We grew very quickly by about 600% in the number of customers… We have a significant opportunity to become the leading company in our field.”
On the Horizon
As Fuchs reveals, the firm’s trajectory is set to scale even greater heights. By the close of 2024, Legit Security aims to broaden its workforce, targeting an employee count between 100 and 120. Reflecting on the company’s inception, Fuchs commented, “We founded Legit Security with the mission to secure the world’s software… With this investment our mission gains additional traction and speed.” The company’s strategic focus now includes fortifying security protocols around AI-generated code and Large Language Models within applications.
Genesis of Legit Security
The roots of Legit Security trace back to September 2020. It’s the brainchild of three stalwarts – Roni Fuchs, Liav Caspi, and Lior Barak. Their camaraderie began during their tenure in the IDF’s 8200 military intelligence unit. Post a series of collaborative ventures and industry insights, the trio embarked on the journey of Legit Security, acknowledging the pressing need for advanced code content protection.
Gili Raanan, the mind behind Cyberstarts, lauded Legit’s achievements and stated, “Legit has the team, product, and market opportunity aligned, and it’s time to further accelerate growth with additional resources.”
Legit Security, a cybersecurity powerhouse, has clinched a $40 million Series B funding round. Their state-of-the-art ASPM platform, combined with a clientele of market leaders and an ambitious future roadmap, places them at the forefront of the cybersecurity landscape.
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