Cybersecurity warriors bag $70m from US investors
Written on the 11 December 2019 by David Simmons
Major US investors have poured $70 million into Sydney-based cybersecurity company Secure Code Warrior as part of a Series B funding round.
The raise was led by US juggernauts Goldman Sachs, ForgePoint Capital, and Cisco, with additional capital injected by existing investors Sydney-based AirTree Ventures and US-based Paladin Capital Group.
The investment comes at a pivotal time for the global secure coding company as it makes inroads in the global cybersecurity market.
The funds are expected to be used to support ongoing product development and the establishment of new operations globally, including APAC expansion starting in Singapore.
Over the past 12 months Secure Code Warrior's team has grown by 150 per cent following the opening of a second Sydney office space.
The group's customers include Telstra, Woolworths, Xero and ING Bank.
CEO and co-founder Pieter Danhieux (pictured) says a number of major opportunities are now available to the company following the Series B funding round.
"We are immensely proud of growing a profitable, sustainable, and diverse global business from Australia," says Danhieux.
"We are committed to ongoing investment in customer success with our talented team in Australia and beyond."
Managing director in Goldman Sachs' merchant banking division David Campbell, who will join the Secure Code Warrior board as part of the company's investment, says the Australian group is on the forefront of important cybersecurity work.
"The Digital Enterprise and CI/CD (continuous integration and continuous delivery) are two major trends that are placing the app and the developer on the frontlines of the business," says Campbell.
"Secure Code Warrior helps organisations build more secure code while allowing them to maintain productivity and delivery timelines."
"We are excited to be working with Pieter and the Secure Code Warrior team as they execute their unique vision."
The $70 million raise follows the group's USD $3.5 million (AUD $5.14 million) raise in September 2018 which was led by AirTree Ventures and Paladin Capital Group.
Business News Australia
Author: David Simmons