Latest news with #EndorLabs
Yahoo
24-04-2025
- Business
- Yahoo
Endor Labs raises $93m to expand AI-focused security platform
US-based application security company Endor Labs has raised $93m in its oversubscribed Series B funding round. The round was led by DFJ Growth, with additional participation from Salesforce Ventures and existing investors including Lightspeed Venture Partners, Coatue, Dell Technologies Capital, Section 32 and Citi Ventures. The company, founded by Varun Badhwar and Dimitri Stiliadis, offers a platform designed to address security risks in the era of AI-generated code. Endor Labs' tools integrate with AI-powered programming assistants and are used by clients such as Dropbox, Egnyte, OpenAI, Peloton, Rubrik and Snowflake. According to the company, its platform currently secures more than five million applications and performs more than one million scans per week. Endor Labs plans to use the newly raised capital to expand its platform capabilities, grow its engineering team and support global go-to-market initiatives. Endor Labs co-founder and CEO Varun Badhwar said: 'We are building for the scale required to secure this AI era and not letting intermediate market volatility diverge us from our big goals. 'Our marquee customers need an application security platform that supports the pace of development they are confronting with AI. 'It is an honour to be that platform, to do a raise proactively, at a time like this, and to get to work with such quality investors, who share our commitment to excellence and innovation.' Since its Series A funding 18 months ago, Endor Labs has reported a 30-fold increase in annual recurring revenue and a net revenue retention rate of 166%. DFJ Growth venture partner Ramin Sayar said: 'Developers' increasing reliance on AI-generated code further complicates the challenge for security teams. 'Endor Labs embraces this shift with their unparalleled expertise in rethinking security from the ground up – and outing risky AI-generated code and uniquely optimising remediation strategies.' "Endor Labs raises $93m to expand AI-focused security platform" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
23-04-2025
- Business
- Yahoo
Endor Labs, which builds tools to scan AI-generated code for vulnerabilities, lands $93M
AI-generated code is no doubt changing how software is built, but it's also introducing new security challenges. More than 50% of organizations encounter security issues with AI-produced code sometimes or frequently, according to a late 2023 survey by developer security platform Synk. For Endor Labs, that opportunity proved alluring enough that it chose to change course somewhat. Endor started off helping companies secure their open-source package dependencies — in fact, it even raised a $70 million Series A round just two years ago to grow its developer pipeline governance service. But the startup's co-founders Varun Badhwar and Dimitri Stiliadis saw growing demand elsewhere — spotting and combating vulnerabilities in the growing masses of code that engineers use AI to generate and fine-tune. Today, Endor runs a platform that, it claims, can not only review code and identify risks, but also recommend "precise" fixes and apply them automatically. The company offers a plugin for AI-powered programming tools like Cursor and GitHub Copilot that scans code as it's written and flags issues. The pivot could prove to be a wise choice. On Wednesday, Endor announced that it closed a $93 million Series B round led by DFJ Growth, with participation from Salesforce Ventures, Lightspeed Venture Partners, Coatue, Dell Technologies Capital, Section 32, and Citi Ventures. Badhwar (CEO) said that the round values Endor at "orders of magnitude higher" than its Series A valuation. The proceeds will be used to expand Endor's platform, he added. The Series B brings the startup's total capital raised to $163 million. "This new round positions us to continue delivering, even in a tougher macro environment than similar companies faced five to ten years ago," Badhwar told TechCrunch. "We raised now because we're seeing strong momentum — 30x annual recurring revenue growth since our Series A in 2023 — and this lets us double down on delivering outcomes for our customers." Several months ago, Endor launched a tool designed to help organizations spot where AI models and services integrate with their codebase, and evaluate the integrations for security flaws. The idea is to provide better oversight as AI programming tools proliferate, said Badhwar. Endor says it now protects more than 5 million applications and runs over a million scans each week for customers including OpenAI, Rubrik, Peloton, Snowflake, Egnyte and Dropbox. "We came out of stealth in October 2022 — right as interest rates spiked — and we've seen strong traction ever since," Badhwar said. Ramin Sayar, venture partner at DFJ Growth, said his firm invested because Endor found itself at the right place, at the right time. "As generative AI transforms coding practices, developers are generating vast amounts of code without thorough visibility and control," Sayar told TechCrunch. 'Endor Labs is not only setting a new standard in application security — the team is creating a movement by launching their expanded platform." Endor currently has 133 employees concentrated in its offices in Palo Alto and Bangalore. This article originally appeared on TechCrunch at
