Supply chain security software leader announced a strategic investment from Citi Ventures today. This investment further validates Endor Labs’ unique approach to securing the software supply chain and it comes less than a year after the company raised $70 million in an oversubscribed Series A funding round from Lightspeed Venture Partners (LSVP), Coatue, Dell Technologies Capital, Section 32 and more than 30 industry-leading CEOs, CISOs and CTOs.
Endor Labs was originally founded in 2022 by industry veterans and serial entrepreneurs Varun Badhwar and Dimitri Stiliadis to address a massive yet largely neglected market need in application security.
With a goal of shipping products faster, development teams depend on Open Source Software (OSS), LLMs, containers, code repositories and arbitrary tools in CI/CD pipelines – which could also introduce challenging risks.
Application security teams today spend many hours investigating what risks should be prioritized while developers struggle with uncontextualized security alerts. Endor Labs surfaces meaningful and reachable risks across dependencies in the software development lifecycle, helping teams get the evidence they need.
Since being founded, Endor Labs quickly gained traction with Fortune 500 enterprises and emerging cloud-native companies. And Endor Labs was named a finalist at the 2023 RSA Conference Innovation Sandbox and 2023 Black Hat Startup Spotlight, a SINET16 Innovator Award Winner. The company has also been cited several times as one of the Best Places to Work.
KEY QUOTES:
“Financial institutions employ tens of thousands of developers, and often outpace technology companies with innovation and shipping new applications. Software supply chain security is now a board-level concern for these organizations, because ignoring it or getting it wrong not only exposes the organization to significant risk, but costs hundreds of millions in lost developer productivity. Endor Labs already serves some of the largest financial institutions in the US, and our work with Citi gives us even better insights into how to solve problems at this scale.”
– Endor Labs CEO and co-founder Varun Badhwar
“Citi runs one of the largest software development organizations in the world. At this scale, lost productivity due to false positive alerts is a compounding issue. Endor Labs integrates seamlessly into the developer workflow and helps pinpoint supply chain risks that may affect our business.”
– Clark Smith, Head of Engineering and Architecture for CISO & Managing Director at Citi
“Endor Labs represents the next major innovation in application security. Their platform represents a technological step change in how vulnerabilities are analyzed. For a long time now, developers have had to manually analyze vulnerabilities to assess if they are exercised in production. We believe that the reachability analysis provided by Endor Labs will be a must-have technology for enterprises, focusing developers’ efforts on only the most critical and reachable vulnerabilities and saving them countless hours. We’re extremely excited to become investors and partner with Varun and team.”
– Matt Carbonara, Head of Enterprise Tech Investing at Citi Ventures
