ArmorCode, a leader in Application Security Posture Management (ASPM) and Risk-Based Vulnerability Management (RBVM), announced that it has closed a $40 million priority Series B round to advance its mission to help companies deliver secure software quickly and at scale. Leading startup firm HighlandX led the round with participation from NGP Capital, as well as existing investors Ballistic Ventures, Sierra Ventures and Cervin Ventures. The funding follows a year of significant growth for ArmorCode, including more than 400 per cent year-over-year revenue growth with Fortune 500 companies comprising 25 per cent of its customer base.
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ArmorCode
ArmorCode will use the new funding to accelerate its growth by investing in market entry, product and engineering teams to grow the team by more than 20 per cent, new partnerships and growth in Europe, and new product areas to increase revenues. ArmorCode will also introduce a variety of new AI and software supply chain capabilities to further leverage the platform's 4 billion processed findings and counts. This will enable organisations to prioritise risks. Prioritisation and remediation will also be able to automate workflows at scale.
ArmorCode offers a unique platform that unifies the management of vulnerabilities and weaknesses across applications, infrastructure and the software supply chain. This enables teams to get a comprehensive view of their risks, act faster, and spend time fixing the issues that matter most. ArmorCode differentiates itself from siloed scanning tools by focusing on collection and governance. It enables security teams to improve their security posture by providing complete visibility into their environment.
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