Semgrep, a leading Application Security platform, announced $100 million in Series D funding led by Menlo Ventures. This round also included participation from existing investors, including Felicis Ventures, Harpoon Ventures, Lightspeed Venture Partners, Redpoint Ventures, and Sequoia Capital. This funding round brings the company’s total funding to $204 million.
The current code scanners are known for being noisy and have low efficacy while slowing developers down. At the same time, organizations face mounting pressure to secure increasingly complex codebases while maintaining rapid development cycles.
Semgrep’s AppSec Platform enables developers and security engineers to establish Secure Guardrails while transitioning from traditional risk management to proactive security engineering. Semgrep is building one of the best autonomous code security platforms.
Security teams are overwhelmed with the volume of code they have to secure. Launched recently, Semgrep Assistant learns your organization’s software development life cycle and automatically finds, triages, prioritizes, and fixes the most important security issues as an agentic AppSec engineer. And through its LLM-powered platform, Semgrep automatically converts identified security bugs into secure guardrails, enabling developers to write more secure code without sacrificing speed.
Since the company’s Series C funding round in April 2023, Semgrep has created a massive technology advantage in its Appsec Platform which is now a Static Application Security Testing (SAST), Software Composition Analysis (SCA), and Secrets product suite for hundreds of customers.
Semgrep also brings in external expertise to scale the company. The company recently announced the appointment of Garrett Souza, former SVP Americas at Matillion and Enterprise Sales Leader at Snyk, as Vice President of Sales and the addition of Mark McLaughlin, former CEO of Palo Alto Networks, as an Angel Investor and Advisor.
This year and beyond, Semgrep will use the funds in a series of ways, including hiring world-class AI and program analysis talent to extend the company’s competitive edge along with increasing awareness of what its product offers beyond a security practitioner audience. Lastly, these funds will boost the company’s Go-To-Market team with veterans and advisors from organizations like Hashicorp, Elasticsearch, Snyk, and others – leveraging its unique position as a rare company at the intersection of OSS and security.
KEY QUOTES:
“The era of AI for security is here, and Semgrep is uniquely positioned to help organizations secure their code without sacrificing development velocity. With the Semgrep platform, you can build an Appsec program with cost-effectiveness, security, and development speed.”
- Isaac Evans, CEO at Semgrep
“AI is having a profound impact on all areas of technology. Semgrep’s approach to autonomous code security is a perfect example and represents the future of application security. Semgrep’s unique combination of AI capabilities and deep security expertise solidifies them as the leader in this increasingly critical market.”
- Matt Murphy, Partner at Menlo Ventures and new Board Member of Semgrep
