Global secure coding company Secure Code Warrior® today announced a Series B funding round of £38 million, representing the largest ever US investment of its kind for an Australian cybersecurity business.
The investment will be used to support global expansion initiatives, ongoing product innovation, and the establishment of new operations, including further investments in the UK market. Secure Code Warrior’s funding is led by US-based Goldman Sachs Group. Additional investors also include ForgePoint Capital and Cisco Investments, with new commitments from existing investors Sydney-based AirTree Ventures and Washington DC-based Paladin Capital Group.
Founded in 2015 by global cybersecurity experts Pieter Danhieux and Dr. Matias Madou, Secure Code Warrior is an online secure coding platform that helps developers think and act with a security mindset every day. It includes support for nearly 30 programming languages and frameworks, and delivers more than 3,500 training modules that cover more than 140 different software weaknesses; including the all-important OWASP Top 10.
In the UK, Secure Code Warrior team has grown by nearly 170% in the past 12 months, with plans to continue that growth rate with further expansion into EMEA. Recent new hires in Sales, Marketing, and Customer Success leadership is set to drive expansion throughout EMEA, and also to oversee the development of the business’ existing UK client base, which includes the likes of the BBC, HSBC, Standard Chartered and FinTech company Revolut.
Pieter Danhieux, Secure Code Warrior, Co-Founder, CEO and Chairman commented: “We are delighted to announce this new funding round which ensures we are able to grow our successful operations in key global markets. The UK is an important market for us, and we’re committed to supporting the fast-growing team there in its mission to combat software vulnerabilities from the beginning.”
This most recent investment follows Secure Code Warrior’s funding in September 2018 led by Paladin Capital Group, and AirTree Ventures. Since then, Secure Code Warrior has gone from strength to strength, and now has more than 180 customers from 28 countries around the world. In addition to customer growth, staff numbers have risen to more than 120 full time employees, with plans to continue rapid hiring in all locations and functions.
“As organisations around the world increase their reliance on software, the need for secure code has never been more important. However, each day, security breaches resulting from previously known software vulnerabilities occur - impacting both individuals and organisations,” said Pieter Danhieux. “To put it simply - this situation has to stop. Secure Code Warrior’s vision is to make Developers the first line of defence by making security highly visible and providing them with the skills and tools needed to write secure code from the beginning. Our purpose is to support their ultimate goal of shipping secure code with confidence.”
As part of the investment, David Campbell, a Managing Director in Goldman Sachs’ Merchant Banking Division, will join the Secure Code Warrior board of directors. He commented: “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 organizations build more secure code while allowing them to maintain productivity and delivery timelines. We are excited to be working with Pieter and the Secure Code Warrior team as they execute their unique vision.”