BlueFlag Security announced it raised an $11.5 million seed funding round led by Maverick Ventures and Ten Eleven Ventures with participation from Pier 88 Investment Partners. This funding round will accelerate the development of BlueFlag’s software development life cycle (SDLC) security and governance platform.
The company’s platform delivers end-to-end and identity-centric protection across the development lifecycle from code to production. A holistic approach to SDLC security has never been needed more, considering rising software supply chain attacks. However, traditional security approaches have primarily concentrated on safeguarding against risks in open-source software or developer tools.
These methods fail to address the most critical threat vector within the SDLC: developer identities (human and machine), which pose risks like excessive permissions, poor identity hygiene, risky account behavior, etc. BlueFlag Security addresses the importance of identity security while providing a unified risk perspective across the SDLC to prevent software supply chain attacks.
Launched by Raj Mallempati and Ken Schneider, BlueFlag Security provides a multi-layered defense platform that integrates identity security with open-source software risk management and developer tool posture management. The company aims to create a secure, efficient, and reliable development environment in which identities are safeguarded as rigorously as the code and tools.
BlueFlag’s platform utilizes AI-driven insights and an identity-first approach to create a unified defense against emerging threats.
And as a solution for the development lifecycle, the platform anticipates and effectively neutralizes threats before they escalate into breaches. Through BlueFlag Security, organizations gain:
1.) A proactive stance on detecting, prioritizing, and mitigating threats within the SDLC, safeguarding against software supply chain attacks from the ground up.
2.) A comprehensive security framework that extends protection across developer identities, tools, and code, offering a unified perspective on risk within the SDLC.
3.) An AI/ML-powered Identity Intelligence framework that innovates risk mitigation and compliance automation and sets new standards in identity security.
KEY QUOTES:
“Our mission is to provide developers with a clean, trustworthy environment. The BlueFlag platform doesn’t just add another layer of protection; it introduces a fundamentally different philosophy that places identity security at the heart of SDLC security and governance. We invite the industry to join us in championing a future where software development is inherently secure, and where securing developer identities is as integral to our protocols as code scanning and the configuration of developer tools.”
– Raj Mallempati, CEO of BlueFlag Security
“BlueFlag Security stands out in the field by harnessing AI/ML-driven identity intelligence within its SDLC platform. This innovative approach warrants further exploration by analysts as it presents a paradigm shift in risk management and compliance. By continuously monitoring and analyzing developer identities throughout the software development lifecycle, BlueFlag’s solution holds immense potential for mitigating risks, ensuring adherence to regulations, and fostering a trust-based development environment that caters to the needs of security, governance, and compliance professionals.”
– Dr. Chase Cunningham, cybersecurity strategist and host of the DrZeroTrust podcast
“I have seen most initial approaches for SDLC security focus on code or developer tools. BlueFlag expands this perspective, highlighting the critical vulnerability of developer identities and the risks of anomalous behavior. Their comprehensive solution effectively addresses these concerns, managing issues like excessive permissions, unauthorized access, and behavioral red flags across human and machine identities. BlueFlag is instrumental in strengthening an organization’s overall SDLC security posture and fostering a more secure development environment.”
– Prabhath Karanth, SVP, Chief Security and Trust Officer at Greenlight
“BlueFlag represents a game-changer in the SDLC security and governance landscape. Their platform tackles the holy grail of securing the developer landscape: seamlessly integrating identity security, code scanning, and developer tool posture management. This comprehensive approach fills the critical gap in traditional methods, empowering organizations to build secure software from the ground up. Investing in companies like BlueFlag aligns perfectly with our philosophy of supporting disruptive innovators who are shaping the future of how software is developed and secured.”
— Matt Kinsella, Managing Director, Maverick Ventures
“As cybersecurity specialist investors, we are acutely aware of the many complexities in the software supply chain, created through the sprawling number of tools, applications, open-source libraries, code repositories, roles, and credentials that are all part of the software development lifecycle. With BlueFlag’s innovative solution, security teams can feel confident that code is being built in a safe environment, with continuous risk management and up to compliance standards. We are excited to back Raj and Ken as repeat, successful entrepreneurs and thrilled with the talented and experienced team they have already assembled to fuel this product to the next stage.”
— Alex Doll, Founder and Managing Member Ten Eleven Ventures
“Supporting companies like BlueFlag aligns perfectly with our vision for the future of secure software development. Their platform addresses the need for end-to-end SDLC governance, seamlessly integrating essential aspects like identity security, code scanning, and developer tool posture management. This unified approach strengthens security and optimizes development processes, making BlueFlag a valuable asset in the evolving cybersecurity landscape.”
— Frank Timons, CEO, Pier 88 Investment Partners
