BlueFlag Security Raises $11.5M in Seed Round

by Kay Aloha Villamor in March 25th, 2024

BlueFlag Security, a Sunnyvale, CA-based identity-based developer security company focused on helping manage developer risks across the software development lifecycle (SDLC), emerged from stealth with $11.5 million seed funding.  


Led by Maverick Ventures and Ten Eleven Ventures, with participation from Pier 88 Investment Partners.  

Maverick Ventures is a venture capital arm of Maverick Capital based in San Francisco, California, that invests in seed, early, and later-stage firms in healthcare, software, and deep technology sectors. Founded in 2015, The firm prefers to lead rounds, take board seats, and work with management. 

Founded in 2014, Ten Eleven Ventures is a venture capital firm based in Boston, Massachusetts. The firm prefers to invest in companies operating in the cybersecurity and technology sectors. 

BlueFlag Security Use of Funds  

The investment will propel the development of its SDLC security and governance platform. 

About BlueFlag Security   

Founded in 2022 by Raj Mallempati and Ken Schneider, BlueFlag Security offers a multi-layered defense platform that integrates identity security with open-source software risk management and developer tool posture management. The company’s vision is to create a secure, efficient, and reliable development environment where identities are safeguarded as rigorously as the code and tools themselves. Leverages AI-driven insights and an identity-first approach to create a unified defense against emerging threats, BlueFlag aims to close the critical gaps left by conventional security measures, offering a robust multi-layer defense against software supply chain risks.  

Funding Details    

Company: BlueFlag Security Inc.             

Raised: $11.5M                   

Round: Seed Round  

Lead Investor: Maverick Ventures, Ten Eleven Ventures  

Additional Investors: Pier 88 Investment Partners  

Company Website:  

Software Category: Defense  





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