(Photo by Stephen Babcock)
Application security company Contrast Security announced $30 million in new funding on Thursday.
The Series C was led by global VC firm Battery Ventures. Existing investors General Catalyst and Acero Capital also participated. The funding comes about a year after the company’s $16 million Series B.
The funding will be used to accelerate “technology innovation, global expansion and growth in its customer-success team,” a press release states. That will likely mean hiring.
The company is based in Los Altos, Calif., and has an office at Natty Boh Tower in Canton. Jeff Williams and Arshan Dabirsiaghi founded the company in 2013. The company’s Baltimore office of more than 30 employees is mostly comprised of dev and engineering talent. Leaders have said they are seeking to tap into the area’s cybersecurity strengths.
Its technology is designed to secure software applications by making them “self-protecting.” Tools that provide detection of threats and attack monitoring are built in at the code level, Williams told us last year. That’s a difference from previous approaches to application security.
“Contrast Security has already proven that companies can, in fact, respond quickly and effectively to vulnerabilities before attacks even start. Battery Ventures has a history of helping companies and entrepreneurs with game-changing technology in the application performance monitoring, DevOps and cybersecurity categories achieve significant market impact, CEO Alan Naumann said in a statement. “This funding will enable us to scale to meet the market demand and help companies make self-protecting software an industry standard.”-30-
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