Secure Code Warrior has today announced a Series B funding round of AUD$70 million, led by Goldman Sachs with additional investors ForgePoint Capital and Cisco Investments, and new commitments from existing investors, Sydney-based AirTree Ventures and US-based Paladin Capital Group.
Founded in 2015 by global cybersecurity experts Pieter Danhieux, pictured above, and Dr. Matias Madou, Secure Code Warrior is an SaaS-based secure coding platform that helps developers write code with security in mind. Its Australian customers include Telstra, Woolworths, Xero, and ING Bank.
The capital will be used to support ongoing product innovation, and the establishment of new operations globally, including APAC expansion starting in Singapore.
“We are immensely proud of growing a profitable, sustainable, and diverse global business from Australia,” says CEO Pieter Danhieux.
The aim of the product is to bake security into the code, without slowing down the development process.
“As organisations around the world increase their reliance on software, the need for secure code and a security mindset championed by developers has never been more important,” Danhieux said. “The addition of blue ribbon customers from across the world such as the BBC, Verizon, and DBS Bank signals that not only is software development on the rise pretty much everywhere, but also that the opportunity to increase the world’s secure coding skills at source is enormous, and we have only just begun.”
David Campbell, a Managing Director in Goldman Sachs’ Merchant Banking Division will join the Secure Code Warrior board of directors as part of the investment.
“The Digital Enterprise and CI/CD are two major trends that are placing the app and the developer on the frontlines of the business. Secure Code Warrior helps organisations build more secure code while allowing them to maintain productivity and delivery timelines,” Campbell said.
The investment follows Secure Code Warrior’s US$3.5 million funding round in September 2018, which was led by Paladin Capital Group and AirTree Ventures.
“The new front in the cybersecurity war is being fought by software developers,” said James Cameron, Partner at AirTree Ventures.
“Secure Code Warrior is focused on helping developers write code more securely, and they have emerged as a clear global leader in developer driven cybersecurity. This is one of the fastest growing software companies we’ve seen come out of Australia, and it’s fantastic to see Australian based technology like this being exported around the globe. We’re excited to be doubling down and supporting them in their global expansion.”
In Australia, Secure Code Warrior’s team has grown by more than 150 per cent in the past 12 months, adding a second Sydney office space, with a view to grow by a further 70 per cent in the coming year. There are nearly 70 open positions globally. Of these team members, nearly 30 are part of the onshore R&D team, with the company reinvesting 35 per cent into R&D initiatives.