Zip Security recently announced it raised $7.7 million in a round of funding co-led by General Catalyst and Human Capital with participation from BoxGroup. This funding round will enable Zip to rapidly scale up the development of its software product, which currently solves cloud-based identity management, device management, and endpoint threat detection, to include more advanced capabilities like device trust, automated patch management, and identity threat detection.
Zip’s current customers are businesses across various industries, including defense, health, software, and finance. These businesses are a battleground for cyberattacks: companies with less than 100 employees are three times more likely to be targeted by cybercriminals than larger companies, and any breaches come with high costs.
Reported losses due to cybercrime exceeded $10.3 billion in 2022, according to the FBI 2022 Internet Crime Report. And cyber risk is also increasing, especially for tech-forward companies that leverage a growing assortment of software tools, making it even more expensive for companies that already lack the resources and expertise in cybersecurity to protect their business.
The current users of Zip’s software range in experience from security newbies to career professionals – all of whom use Zip to secure their business rapidly. And Zip’s founders, Josh Zweig and Gabbi Merz, met at Palantir Technologies, where they worked on securing US government systems. The founding team grew to include other U.S. government and Palantir alumni whose careers have focused on building systems resilient to the ever-growing threat of cyber attacks.
KEY QUOTES:
“Most organizations do not have the ability to invest in cybersecurity like a Fortune 500, but the burden is increasingly on them to do so. These businesses with no security team or small security teams remain targets because of their access to critical information and because they remain underserved by the industry. Our mission is to protect those businesses and their customers’ data by making cybersecurity affordable and accessible.”
— CEO and Co-Founder Josh Zweig
“Cyber threats don’t discriminate; all businesses, large and small, can face breaches and ransomware issues. Zip is bringing simplicity to security and has created a product as dynamic as the landscape demands. General Catalyst is excited to support Josh, Gabbi, and the team on their journey to shape the future of enterprise security.”
— Quentin Clark, Managing Director of General Catalyst
“Zip’s platform allowed Finfare to implement a single source of truth for endpoint protection and compliance overnight. The software Zip provides allows Finfare to identify and manage endpoint inventory and quickly generate evidence for SOC2 and ISO 27001 compliance needs.”
— Chad Brustin, Director of Information Security at Finfare
“We are excited to use this funding to build out our team and product in service of our customers, providing them best-in-class security so that they can spend their time and resources where it matters most: on their mission.”
— CTO and Co-Founder, Gabbi Merz
