Bionic Closes $65 Million Series B

<p><strong>PALO ALTO<&sol;strong> &&num;8212&semi; Bionic&comma; developer of an Application Security Posture Management platform&comma; has closed a &dollar;65 million Series B funding round led by Insight Partners&period; Existing investors Cyberstarts and Battery Ventures also participated in the round&period; Bionic will use this new round to expand investment in R&&num;038&semi;D and scale its rapidly growing sales and customer success teams&period;<&sol;p>&NewLine;<p>As enterprises adopt CI&sol;CD&comma; microservices&comma; and serverless technologies&comma; the surface area of applications in the cloud continuously expands and changes&period; This introduces drift&comma; new attack vectors&comma; and business risks that current cloud security processes and tooling do not address&period; Furthermore&comma; data privacy regulations like GDPR and CCPA mean the way applications and code consumes personal data in the cloud needs to be better managed and secured&period;<&sol;p>&NewLine;<p>Since launching from stealth in December 2020&comma; Bionic has experienced significant growth and helped dozens of customers such as GSK&comma; Armis&comma; and Freddie Mac to accelerate their digital transformation projects and de-risk their application security posture&period; Bionic provides its customers with complete visibility and continuous monitoring of their applications&comma; services&comma; and APIs while detailing data flows&comma; and attack surfaces&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Our strong market traction with enterprise customers created major interest from the investor community resulting in an oversubscribed Series B round&comma;&&num;8221&semi; said Idan Ninyo&comma; CEO and co-founder of Bionic&period; &&num;8220&semi;We are thrilled to partner with tier-1 investors — Insight Partners&comma; Cyberstarts&comma; and Battery Ventures — as we continue to build Bionic into the next major cybersecurity software company&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;Bionic provides complete visibility and detection for your application architecture and data flow with an innovative agentless approach&period; Their platform enables the mapping of application dependencies&comma; components&comma; and configurations&comma; which is key in mitigating security risks introduced by continuous delivery&period; Bionic uniquely serves the needs of both cybersecurity and DevOps teams with a product functionality that provides immediate value with minor operational impact&comma;&&num;8221&semi; said Steve Ward&comma; Managing Director at Insight Partners&period; &&num;8220&semi;Bionic&&num;8217&semi;s founding team with its deep understanding of the domain and strong technical experience&comma; have made the company a standout in the industry&period; We look forward to partnering with the Bionic team as they continue to grow and Scale Up&period;&&num;8221&semi;<&sol;p>&NewLine;