Rezilion, a cybersecurity startup based in Israel, closed a $30 million Series A funding round to revolutionize the DevSecOps Industry.
The round was led by Guggenheim Investments and counted with participation from firms like JVP and Kindred Capital, as well as current and former security executives from Google, Microsoft, CrowdStrike, IBM, Cisco, PayPal, JP Morgan Chase, Nasdaq, eBay, Symantec, RedHat, RSA and Tenable. Rusty Parks, Senior Managing Director of Guggenheim Investments, referred to the firm’s interest in the startup by stating:
“Rezilion’s product suite is a game-changer for security teams. It creates a win-win, allowing companies to speed innovative products and features to market while enhancing their security posture. We believe Rezilion has created a truly compelling value proposition for security teams, one that greatly increases return on time while thoroughly protecting one’s core infrastructure.”
Having raised a total of $38 million in funding since its inception in 2018, the startup is planning to use the new funds to rapidly scale its go-to-market strategy by partnering with other solution providers in the industry. It will also grow its operations to accelerate its customer base expansion in the United States and Europe, product development, and ensure its sustained growth.
Rezilion was founded to close the gap between security and engineering by automating manual security bottlenecks to facilitate DevSecOps operations. The startup estimates that its vulnerability validation technology has reduced patching backlogs by more than 70% for its customers, freeing resources that can then be allocated to other areas. Liran Tancman, co-founder and CEO of Rezilion, said in this regard:
“At Rezilion, we are deeply committed to helping organizations drive their own innovation by reducing the resource drain, inaccuracies, and operational friction created by manual security work. We know there’s never been a better time for organizations to experience what we call ‘trust in motion,’ or the peace of mind that comes from moving fast while staying safe and secure.”
According to a report by the US Department of Health and Human Services, companies in the US need to invest an average of $1.27 million to rectify ransomware attacks, a threat that has increased in prevalence over the past year. As a result, DevSecOps has become an increasingly relevant area for companies around the world as a result of the increasing number of threats, which the cybersecurity startup is aiming to help prevent.