Legit Security, a Palo Alto, CA-based cybersecurity company developing a platform to identify app vulnerabilities from code, raised $40 million in Series B funding.

SaaS Investors

The funding round was led by CRV and included participation from investors such as Cyberstarts, Bessemer Venture Partners, and TCV.

Legit Security Use of Funds

The funds from this round will be utilized to expand Legit's sales, marketing, and research and development (R&D) teams. The company plans to increase its headcount to over 100 employees by the end of the year, up from the current count of 78.

About Legit Security

Founded by Roni Fuchs, Liav Caspi, and Lior Barak, Legit Security provides real-time visibility and security control across development environments, offering a unified platform to orchestrate applications. It secures application delivery from code to cloud and protects an organization's software supply chain from attacks. Legit is part of the emerging category of security tools known as Application Security Posture Management (ASPM), which helps manage application risk by collecting, analyzing, and prioritizing security issues throughout the software lifecycle. The company counts Google, the New York Stock Exchange, Kraft Heinz, and Takeda Pharmaceuticals among its customers.

Funding Details:

Company: Legit Security Ltd

Raised: $40.0M

Round: Series B

Funding Month: September 2023

Lead Investors: CRV

Additional Investors: Cyberstarts, Bessemer Venture Partners, TCV

Company Website: https://www.legitsecurity.com/ 

Software Category: Application Security Posture Management

Source: https://techcrunch.com/2023/09/20/legit-security-lands-40m-to-lock-down-apps-and-dev-environments/