Application Security Startup ArmorCode Raises $40M Follow Dec 05, 2023 · 1 min read
Application Security Startup ArmorCode Raises $40M
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Application security operations company ArmorCode recently closed a $40 million Series B funding round, fueling its mission of enabling organizations to ship secure software rapidly at scale. Founded in 2020, ArmorCode consolidates and streamlines AppSec tooling and processes so security teams can keep up with the speed of development.

The startup has seen great momentum, with 400% yearly revenue growth and 25% of its customer base now Fortune 500 firms like Shutterfly, Snapdocs, and S&P Global. The $40 million infusion was led by HighlandX Capital, with several other VCs participating. HighlandX’s Corey Mulloy also joins ArmorCode’s board.

ArmorCode plans to allot the capital toward expanded go-to-market efforts, partnerships in the US and Europe, as well as more product and engineering staff. Upcoming capabilities will apply AI to better leverage the platform’s 4 billion processed security findings. This will empower teams to automatically triage issues and set remediation workflows at scale.

The company’s goal is to “supercharge security teams” by consolidating alarms and findings from various AppSec tools into a single control plane. This centralized visibility, paired with automated workflows, aims to turn application security into a scalable, cost-effective process built into delivery pipelines.

With applications now powering everything from e-commerce to connected vehicles, securing code has become mission-critical. Legacy approaches failed to provide holistic visibility or scale effectively, bottlenecking releases. ArmorCode’s timing and traction indicate they are poised to lead a new generation of cloud-native AppSec platforms purpose-built for modern deployment cadences.

The $40 million Series B comes on the heels of a $15 million raise last November, bringing ArmorCode’s total funding near $65 million. As software continues eating the world, enabling security at dev speed looks to be a massive opportunity. With strong momentum and an expanding war chest, ArmorCode seems ready to capture that market.

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