Contrast Security Raises $150 Million at ‘Unicorn’ Valuation
Code security company Contrast Security this week announced that it has closed $150 million Series E funding round at a billion-dollar valuation, making the company the latest cybersecurity unicorn.
The company offers a platform that helps developers create more secure applications by discovering vulnerabilities in code, detecting what libraries are being used, and goes as far as providing embedded runtime exploit prevention that analyzes application runtime to prevents and confirm exploitability of bugs.
Contrast says the investment will help it meet demand for its platform and that it will use the funds to accelerate global expansion plans, to further gain market share. The new infusion of cash will also help the company “execute on strategic opportunities and acquisitions.”
According to Contrast, its solutions secure code for numerous large organizations worldwide, including American Red Cross, AXA, BMW, DocuSign, SOMPO Japan, and Zurich, along with other global Fortune 500 enterprises.
Founded in 2014 and headquartered in Los Altos, California, Contrast provides customers with an Application Security Platform designed to help secure code faster through identifying vulnerabilities and providing context-specific guidance on how to address them.
The funding round was led by Liberty Strategic Capital, with existing investors Acero Capital, AXA Venture Partners, Battery Ventures, General Catalyst, Microsoft’s M-12 Fund, and Warburg Pincus, contributing as well.
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Ionut Arghire is an international correspondent for SecurityWeek.
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