ArmorCode Raises $40M to Advance Cybersecurity Data Consolidation

ArmorCode, a cybersecurity platform specializing in consolidating vulnerability data from connected applications and software infrastructure, has secured $40 million in a Series B funding round led by HighlandX. Other participants include NGP Capital, Ballistic Ventures, Sierra Ventures, and Cervin.

The latest funding round brings ArmorCode’s total raised capital to $65 million.

The funds will be utilized to enhance the startup’s go-to-market efforts, expand its product and engineering teams, introduce new AI and software supply chain capabilities, and grow partnerships in Europe. ArmorCode aims to address the challenge of pervasive security risks resulting from the increased release of software without adequately addressing vulnerabilities.

Nikhil Gupta, co-founder and CEO of ArmorCode, expressed the platform’s mission in addressing critical security challenges posed by the rapid and widespread release of software. Security teams often struggle to keep pace with addressing critical risks across the entire organization, and ArmorCode aims to provide a solution to this challenge.

Prior to launching ArmorCode, Gupta was the CEO and co-founder of Avid Secure, acquired by Sophos in 2019. He observed the rise in software exploit attacks and the corresponding demand for defensive solutions, leading to the creation of ArmorCode. The platform surfaces vulnerabilities in an enterprise’s software and infrastructure, covering containers, public and private clouds, through role-specific dashboards.

These dashboards provide threat intelligence tools, risk scoring, and suggestions for mitigating attacks. Additionally, ArmorCode offers training targeted at security teams and individual members to enhance their preparedness against security threats.

Gupta emphasized that while there are various scanning tools across applications, infrastructure, and the cloud, organizations struggle to consolidate findings at scale. ArmorCode distinguishes itself by offering a vendor-neutral, platform-based solution at an enterprise scale.

Despite competition in the cybersecurity space, ArmorCode claims a niche for itself, with a 400% growth in its customer base over the past year. The customer roster includes large enterprises in industries such as media and entertainment, hospitality, healthcare, consulting, and finance. The additional funding will support the company’s expansion into Europe and the exploration of new product areas, reinforcing its commitment to addressing the growing need for software security amid digital transformation acceleration.

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