Legit Security receives USD 40 mln Series B investment Led by CRV

Thursday 21 September 2023 15:32 CET | News

Cybersecurity company Legit Security has successfully closed a USD 40 mln investment round led by CRV.


Legit Security is a cybersecurity company with an enterprise Application Security Posture Management (ASPM) platform enabling secure application delivery from code to cloud and protects an organisation's software supply chain from attack.

The ASPM platform continuously reduces application risk through discovery, analysis, correlation, and remediation of application vulnerabilities from code development all the way to cloud deployment. It provides real-time visibility and security control across changing development environments and offers a unified application security control plane that consolidates vulnerabilities from different sources, enforces security policies, and prioritises risk.

The Series B funds will be used to expand Sales, Marketing and R&D, as well as address the emerging threat of Artificial Intelligence and Large Language Models (LLMs) in the development of new applications. Software development teams are increasingly leveraging AI-generated code and embedding LLMs in their applications to accelerate innovation, but these AI technologies are also introducing a rapidly expanding class of new security threats that the company will address with the additional resources.

Cybersecurity company Legit Security has successfully closed a USD 40 mln investment round led by CRV.

Elevating application security

Security teams use Legit Security’s platform to identify security gaps in real-time and leverage unparalleled context to streamline developer collaboration and remediation, enabling application security to be more efficient.

Gartner predicts that by 2026, more than 40% of organisations creating custom applications will embrace ASPM. Gartner also recommends that organizations with diverse development teams and a wide assortment of security tooling should prioritize ASPM and describes it as a 'transformational' technology that will drive shifts in the application security industry.

Trusted by prominent enterprises

Legit Security's rapid customer growth includes a roster of prominent enterprise brands such as Google, NYSE, Kraft Heinz, and Takeda Pharmaceuticals. Additional Fortune 500 customers include some of the largest enterprises in the world that are Top 5 global leaders in their respective industries including insurance, banking, consumer products, and cybersecurity. Further contributing to this growth, Legit's platform deployments across all customers have nearly doubled in size within the first year of implementation.

Officials from Legit Security said they founded Legit Security with the mission to secure the world's software with a platform that continuously manages application security from code to cloud. They are happy to work closely with their customers to solve these challenges, and their insights have pushed them to develop a holistic approach to modern application security that brings security and development closer together for greater speed, efficiency, and collaboration. With this investment their mission gains additional traction and speed, including new capabilities to extend visibility, security, and governance to AI-generated code and embedded Large Language Models (LLMs) in applications.

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Keywords: cybersecurity, investment, funding, artificial intelligence, LLM
Categories: Fraud & Financial Crime
Companies: Legit Security
Countries: World
This article is part of category

Fraud & Financial Crime

Legit Security

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