Dec
04
2019
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GitGuardian raises $12M to help developers write more secure code and ‘fix’ GitHub leaks

Data breaches that could cause millions of dollars in potential damages have been the bane of the life of many a company. What’s required is a great deal of real-time monitoring. The problem is that this world has become incredibly complex. A SANS Institute survey found half of company data breaches were the result of account or credential hacking.

GitGuardian has attempted to address this with a highly developer-centric cybersecurity solution.

It’s now attracted the attention of major investors, to the tune of $12 million in Series A funding, led by Balderton Capital . Scott Chacon, co-founder of GitHub, and Solomon Hykes, founder of Docker, also participated in the round.

The startup plans to use the investment from Balderton Capital to expand its customer base, predominantly in the U.S. Around 75% of its clients are currently based in the U.S., with the remainder being based in Europe, and the funding will continue to drive this expansion.

Built to uncover sensitive company information hiding in online repositories, GitGuardian says its real-time monitoring platform can address the data leaks issues. Modern enterprise software developers have to integrate multiple internal and third-party services. That means they need incredibly sensitive “secrets,” such as login details, API keys and private cryptographic keys used to protect confidential systems and data.

GitGuardian’s systems detect thousands of credential leaks per day. The team originally built its launch platform with public GitHub in mind; however, GitGuardian is built as a private solution to monitor and notify on secrets that are inappropriately disseminated in internal systems as well, such as private code repositories or messaging systems.

Solomon Hykes, founder of Docker and investor at GitGuardian, said: “Securing your systems starts with securing your software development process. GitGuardian understands this, and they have built a pragmatic solution to an acute security problem. Their credentials monitoring system is a must-have for any serious organization.”

Do they have any competitors?

Co-founder Jérémy Thomas told me: “We currently don’t have any direct competitors. This generally means that there’s no market, or the market is too small to be interesting. In our case, our fundraise proves we’ve put our hands on something huge. So the reason we don’t have competitors is because the problem we’re solving is counterintuitive at first sight. Ask any developer, they will say they would never hardcode any secret in public source code. However, humans make mistakes and when that happens, they can be extremely serious: it can take a single leaked credential to jeopardize an entire organization. To conclude, I’d say our real competitors so far are black hat hackers. Black hat activity is real on GitHub. For two years, we’ve been monitoring organized groups of hackers that exchange sensitive information they find on the platform. We are competing with them on speed of detection and scope of vulnerabilities covered.”

Dec
06
2018
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Contentful raises $33.5M for its headless CMS platform

Contentful, a Berlin- and San Francisco-based startup that provides content management infrastructure for companies like Spotify, Nike, Lyft and others, today announced that it has raised a $33.5 million Series D funding round led by Sapphire Ventures, with participation from OMERS Ventures and Salesforce Ventures, as well as existing investors General Catalyst, Benchmark, Balderton Capital and Hercules. In total, the company has now raised $78.3 million.

It’s been less than a year since the company raised its Series C round and, as Contentful co-founder and CEO Sascha Konietzke told me, the company didn’t really need to raise right now. “We had just raised our last round about a year ago. We still had plenty of cash in our bank account and we didn’t need to raise as of now,” said Konietzke. “But we saw a lot of economic uncertainty, so we thought it might be a good moment in time to recharge. And at the same time, we already had some interesting conversations ongoing with Sapphire [formerly SAP Ventures] and Salesforce. So we saw the opportunity to add more funding and also start getting into a tight relationship with both of these players.”

The original plan for Contentful was to focus almost explicitly on mobile. As it turns out, though, the company’s customers also wanted to use the service to handle its web-based applications and these days, Contentful happily supports both. “What we’re seeing is that everything is becoming an application,” he told me. “We started with native mobile application, but even the websites nowadays are often an application.”

In its early days, Contentful focused only on developers. Now, however, that’s changing, and having these connections to large enterprise players like SAP and Salesforce surely isn’t going to hurt the company as it looks to bring on larger enterprise accounts.

Currently, the company’s focus is very much on Europe and North America, which account for about 80 percent of its customers. For now, Contentful plans to continue to focus on these regions, though it obviously supports customers anywhere in the world.

Contentful only exists as a hosted platform. As of now, the company doesn’t have any plans for offering a self-hosted version, though Konietzke noted that he does occasionally get requests for this.

What the company is planning to do in the near future, though, is to enable more integrations with existing enterprise tools. “Customers are asking for deeper integrations into their enterprise stack,” Konietzke said. “And that’s what we’re beginning to focus on and where we’re building a lot of capabilities around that.” In addition, support for GraphQL and an expanded rich text editing experience is coming up. The company also recently launched a new editing experience.

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