The funding will help StackHawk expand its leadership team. Here are the top-line bullets you need to know.
StackHawk, a dynamic application security testing (DAST) platform, has raised $20.7M in a Series B. The round drew participation from Costanoa Ventures, Foundry Group, and Sapphire Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- Colorado-based StackHawk helps DevOps teams identify and resolve security problems in development and production.
- StackHawk’s clients include organizations like CloudBees, DataRobot, One Medical, Vanmoof, CommercialTribe, and Setsail.
- The startup is headquartered in Denver, Colorado.
WHY DOES THE MARKET MATTER?
- The global application security market is expected to reach a value of $33.9B by 2030, growing at a CAGR of 18.7%, according to Allied Market Research.
- More broadly, funding to cybersecurity companies reached an all-time high of $28B in 2021, with early-stage (seed/angel and Series A) startups attracting more than half of all cyber deals.
- The acceleration of digital trends has left companies more dependent on technology than ever, opening the door to more frequent and devastating cyber attacks. The growing number of complex attacks and the need for secure networks in hybrid (online-offline) environments are fueling the market’s growth.