May 13, 2021 — Palo Alto, CA — BluBracket, the leader in code security, today announced it has raised a $12 million Series A funding round led by Evolution Equity Partners. Evolution is joined by all existing investors including Unusual Ventures, Point72 Ventures, SignalFire and Firebolt Ventures. With this round, BluBracket has raised a total of $19.5 million to date.
Demand for BluBracket’s code security solutions has dramatically increased since the company launched in 2020, as code continues to be a central corporate asset and a growing attack surface exploited by bad actors. It’s critical that organizations secure their code and pipelines as early as possible in the development lifecycle, well before that code enters production. All BluBracket solutions are developer-first, as the only way to solve code security is by empowering developers to keep issues out of code before production.
“No company can secure their code without empowering developers. We are passionate about shifting security left and giving companies the tools they need to secure software with every commit,” said co-founder and CEO Prakash Linga. “Our technology solves a pressing issue for both application security and DevSecOps teams. Our new investor Evolution Equity Partners is a powerhouse with deep expertise and connections in the world of cybersecurity. They’re an ideal partner to continue our journey to the forefront of code security.”
BluBracket will expand its go-to-market activities with significant investments in product-led, developer-first growth, as the BluBracket Community Edition is a free way for developers and security engineers to keep secrets and credentials out of code. BluBracket is already helping secure code and pipelines for thousands of developers across dozens of organizations with its suite of products.
“We see an exciting new space converging between the software development lifecycle and cybersecurity. The need for security measures at the beginning of and during code development is more important now than ever. We’ve been searching for the right company to partner with to address this market,” said Karthik Subramanian, partner at Evolution Equity Partners. “When we found BluBracket, we saw a tremendous opportunity to place our bet. Their management team has a track record of success in the security industry and their technology has a headstart in this important arena.”
With “everything as code,” code security becomes paramount.
As the SolarWinds hack has shown us, code security is a massive challenge in today’s distributed, open and interconnected cloud-native world. The world runs on code, and BluBracket has unique technology to keep it safe and protected without compromising innovation, speed or developer productivity.
BluBracket has risen quickly from its public launch in 2020 as an RSA Innovation Sandbox finalist and will deploy the new funds to continue development of their Code Security products. The company will further expand its product functionality in key areas such as Infrastructure as Code security, CI/CD integration and keeping sensitive information out of code early in the development process.
“At Priceline, our technology is a key differentiator,” said Martin Brodbeck, CTO of Priceline. “BluBracket provides a state of the art security solution for our code. By helping us catch security vulnerabilities in code early, this will enable us to innovate quickly and release safely.”
“Whether it’s infrastructure as code or the models that run our systematic trading strategies, code is in everything we do,” said John Terrill, Chief Information Security Officer at Point72. “BluBracket helps protect that code to keep our business innovating and our information safe.”
"Detecting secrets in source control has been a pain point for application security since its inception, and a very high risk to the business,” said Andrew Schmitt, Application Security Lead at iHerb. “With BluBracket's advanced secrets detection capabilities, seamless integrations, and source control governance features, we were able to rapidly advance our application security posture, providing value literally overnight. I don't think a modern enterprise development program can afford not to have BluBracket."
Karthik Subramanian, partner at Evolution Equity Partners, will join John Vrionis of Unusual Ventures and Jim Zemlin of the Linux Foundation on the BluBracket board of directors.
"Software supply chain security is a pressing need for the industry," said Jim Zemlin, executive director of the Linux Foundation and board member of BluBracket. "BluBracket has an innovative solution to empower developers to keep sensitive information out of code before it's committed to Git. Adoption of solutions like BluBracket will help all of us enhance code security."
BluBracket’s Community, Teams and Enterprise editions deliver comprehensive code security, allowing companies to:
BluBracket does all of this by generating a proprietary risk score so security teams can understand risk quickly to prioritize resources for remediation. Through Machine Learning, BluBracket drastically reduces false positives that are common with other application security tools. The result is code security with every commit that respects developer productivity and innovation.
BluBracket currently supports GitHub, BitBucket and Gitlab and delivers pre-built CI/CD integrations with Jenkins, GitHub Actions and Azure Pipelines, as well as leading alerting and ticketing systems.
By empowering developers to prevent security vulnerabilities early in the software development process and giving security professionals an automated and developer-friendly way to ensure code is secure, BluBracket is the first comprehensive solution for code security. More information can be found at www.blubracket.com
About Evolution Equity Partners
Evolution Equity Partners, based in Palo Alto, New York City, London and Zurich invests in fast growing technology companies helping exceptional entrepreneurs develop market leading companies. The firm has a focus on Cybersecurity and adjacent Enterprise Software markets and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world. Learn more at www.evolutionequity.com and follow us at LinkedIn and Twitter.