Endor Labs – the creator of the Code and Pipeline Governance Platform – recently announced $70 million in Series A financing from Lightspeed Venture Partners (LSVP), Coatue, Dell Technologies Capital, Section 32, and over 30 industry-leading CEOs, CISOs, and CTOs. And Arif Janmohamed of Lightspeed, Sri Viswanath of Coatue and former CTO of Atlassian, and Deepak Jeevankumar of Dell Technologies Capital will be joining the Endor Labs Board.
This new funding round, which comes only ten months after the company’s launch, will help Endor Labs create effective application security programs that don’t impose a productivity tax on developers. And developers waste more than half their time investigating endless security alerts, integrating and maintaining security tools in continuous integration and continuous delivery (CI/CD) pipelines, and negotiating priorities and exceptions with security teams.
With more than 90% of code in modern applications coming from open-source software (OSS) repositories, the Endor Labs team chose to build its foundation on OSS governance, focusing on helping teams select and maintain high-quality and secure OSS from the onset and cutting 80% of the vulnerability noise by pinpointing reachable and exploitable risks that would truly affect operations. And the latest milestone in funding will help Endor Labs build on its current momentum by expanding into other areas of code and pipeline security.
The core mission will remain the same through all of its current and future initiatives: To achieve application security without wasting development cycles by surfacing risks that matter across the software development lifecycle.
Most security professionals now see their engineering counterparts as internal customers and seek platform approaches that reduce the cognitive load of implementing disparate security controls and help them focus on the issues that matter the most. And Endor Labs has been at the forefront of this transformation since its launch, and the new funding and ongoing customer adoption further validate this approach.
Endor Labs was launched in 2021 by Varun Badhwar and Dimitri Stiliadis, who previously founded RedLock and Aporeto, respectively, and scaled Prisma Cloud by Palo Alto Networks from inception to a $300 million ARR business in only three years. And while managing a team of 400-plus developers, Badhwar and Stiliadis recognized the pain involved in balancing engineering productivity with software supply chain security.
KEY QUOTES:
“Application security is fundamentally broken today – engineering teams are constantly being asked to deploy dozens of AppSec tools in the CI/CD pipeline, which creates significant work for developers, slows down feature delivery, and increases friction between the engineering and security teams. The path forward lies in consolidating the DevSecOps toolchain, simplifying tool deployments, and prioritizing the handful of risks that actually matter. This is the future we envision, and our team is working closely with our customers and partners to reach that goal. We thank our investors for their recent endorsement, and we pledge to continue innovating in this critical arena.”
― Varun Badhwar, Founder and CEO of Endor Labs
“The investment Endor Labs has made in reachability analysis makes them truly stand out. Traditional Software Composition Analysis (SCA) tools drown developers in false positives, while Endor Labs surfaces risks that actually matter, freeing up AppSec and engineering teams to focus on providing value to our customers.”
― Greg Pettengill, Principal Security Engineer at Five9, an Endor Labs customer
“We love to partner early with outstanding entrepreneurs who have clarity of vision, and support them through every stage of the company’s journey. Varun and team are not only addressing a massive, unmet need in the application security world, but are laying the foundation for an enduring company in a fast-growing market. Lightspeed is proud to have invested in Endor Labs’ Seed financing, and to lead their Series A round.”
― Arif Janmohamed, Partner at Lightspeed
“In order to achieve application security, every company needs to be thinking about their developer team’s productivity and workstream. The Endor Labs team is building a mission critical solution that will not only improve security levels but also vastly improve developers’ ability to build and ship their products. I am thrilled to be joining the Endor Labs Board as they make several breakthroughs in this long ignored space.”
― Sri Viswanath, general partner at Coatue and former CTO of Atlassian
