Digital application security platform ShiftLeft has raised $20m for its Series B round to support expansion of its available products.
San Francisco-based venture capital firm Thomvest Ventures led the round, while previous backers Bain Capital Ventures and Mayfield also supplied funds to the round. Fellow Californian investment firm SineWave Ventures also took part, making its first investment into ShiftLeft.
The capital injection has come just 18 months after ShiftLeft closed its $9.3m round of funding and brings the company’s total equity raise to $30m.
Alongside the round close, the company has named former Trend Micro and Dome9 Security vice president Jim Sortino as its new vice president.
ShiftLeft is a continuous application security platform which uses static code analysis to quickly and accurately identify vulnerabilities. This is combined with application instrumentation to protect the apps and placed in an automated workflow.
With the new wave of capital, the company is looking to expand the range of products it offers and its application coverage. Plans are also set to increase global sales and marketing initiatives.
Thomvest Ventures venture partner Umesh Padval said, “ShiftLeft’s unique architecture provides a prioritized list of vulnerabilities with the least number of false positives and detailed vulnerability information, which helps developers remediate rapidly.
“A high-performance runtime solution that can protect applications in production empowers security teams to embrace automation as the solution which integrates seamlessly into the CI/CD [continuous integration/continuous delivery] workflow of an organization.”
Last year, Thomvest took part in the $6m Series A equity round of application data protection solution Baffle. The company provides data protection capabilities which unify enhanced data access monitoring and access control with end-to-end encryption.
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