- Security breaches cost organisations in the United States an average of $8.2 million in 2019, according to a study by IBM.
- GuardRails helps software development teams find, fix, and prevent security vulnerabilities at a low cost
- GuardRails is already deployed by almost 800 development teams across startups, SMEs and Fortune 500 companies in the United States, Europe, United Kingdom and Asia
SINGAPORE, November 21, 2019 — GuardRails, a SaaS-based software security provider, today announced a USD750k seed financing round led by Cocoon Capital, a Singapore-based early-stage venture capital firm. GuardRails helps developers find, fix, and prevent security vulnerabilities in real-time at a low cost and has close to 800 software teams on its platform.
GuardRails was founded by Stefan Streichsbier, a renowned Austrian security expert who co-authored the first certifiable security standard in the European Union for web application security. As one of the early pioneers in DevSecOps, he witnessed first-hand the problems associated with traditional security scanning solutions.
“Currently, companies need a small army to deploy and integrate security solutions tightly into the development workflows, after which they find heaps of cryptic vulnerabilities without any useful information on how to fix them. This is something not many companies, especially small businesses, can afford to do,” said Stefan Streichsbier, founder and CEO of GuardRails.
Security breaches cost organisations in the United States an average of $8.2 million, more than double the global average of $3.9 million. It was also found that 43% of online attacks are now aimed at small businesses, where 60% go out of business within six months of being victimised. These breaches not only threaten the operations of critical infrastructure, but ultimately impact the lives of ordinary people as well, impacting industries in healthcare, education and transport to name a few.
Having graduated from ICE71 Accelerate in May 2019, GuardRails is already trusted by almost 800 development teams across the United States, United Kingdom, Europe and Asia who use GuardRails to secure their critical business infrastructure, including their web and mobile applications.
Till date, GuardRails has added support for 10 programming languages, and most recently launched support for GitLab in addition to GitHub. GuardRails has also been made available for on-premise deployments and is adding support for BitBucket by the end of the month.
With the funds from the seed investment, GuardRails is scaling their team of software engineers, security experts as well as sales and customer success representatives. GuardRails is also adding support for even more programming languages, development platforms, and security testing technologies. This will allow GuardRails to realise their vision of making application security available to all.
“GuardRails enforces rock solid software for enterprises down to the smallest SMEs. The interconnected, real-time nature of modern societies requires securing even the smallest software nugget. We have been incredibly impressed by the quality and agility of the GuardRails team and are truly excited to join their journey,” said Will Klippgen, Managing Partner at Cocoon Capital. Mr. Klippgen recently joined GuardRail’s board of directors.