LOS ALTOS — Contrast Security, a software security firm, has completed a $65 million Series D funding round led by new investor, private equity firm Warburg Pincus. Existing investors, including Battery Ventures, General Catalyst, M12 (Microsoft’s Venture Fund), AXA Venture Partners and Acero Capital all participated in the oversubscribed round. This brings the company’s total funding raised to $122 million.
This investment will help strengthen Contrast Security’s position to enable secure DevOps. The funding will accelerate the company’s technology innovation, field operations, international expansion along with significant growth in its customer-success team.
Businesses today are developing software at breakneck speeds fueled by modern approaches such as Agile, DevOps, microservices, APIs, cloud-native apps and PaaS environments. This creates a major gap between the demands for faster software development and the challenges brought about by legacy software security tools. Contrast Security is a pioneer in creating a new approach, leveraging patented binary instrumentation to protect applications at every point in their lifecycle. Modern software requires an equally modern security model that can protect the integrity of the business with innovative security safeguards built directly into the software as they are developed and deployed.
“Everything about software today is different, from the increased dependence on third-party and open source components, to microservices and API-centric architectures, and complex cloud deployments. However, many companies are still trying to rely on 15-year-old legacy security tools for their modern software stacks. This approach leaves them with restricted software development capabilities or living with substantial enterprise risk of a data breach,” said Alan Naumann, CEO at Contrast Security.