Cider Security raises $32 million for application security operating system
The Israeli startup’s platform provides security teams with an understanding and comprehensive view of the technologies, systems, and processes unique to every engineering environment
Cider Security, which develops an AppSec operating system, announced on Monday that it has raised $32 million in Series A funding led by Tiger Global Management. Joining the round was the lead investor from Cider Security’s $6 million Seed financing, Glilot Capital Partners, with participation from Glilot’s early growth fund, Glilot+.
Cider currently employs 60 people on three continents and plans to double its workforce. The company was founded in late 2020 by Guy Flechter and Daniel Krivelevich. Cider’s platform provides a unified view of the entire engineering ecosystem, providing security teams with an understanding and comprehensive view of the technologies, systems, and processes unique to every engineering environment. Security teams are provided a tailored set of controls and solutions to optimize security and achieve full resilience across the entire CI/CD pipeline - all the way from code to deployment.
“The funding round was completed in 2022 and we didn’t encounter any difficulty in raising it,” Flechter told Calcalist. “We will be recruiting additional employees for customer support, sales, as well as R&D. We have employees in Israel, U.S., as well as Germany and Ukraine. We employ 11 people in Ukraine, some of which have crossed the border and have resumed working partially. We understand their situation and are trying to help them as much as we can.”
John Curtius, Partner at Tiger Global Management, noted: “The methods that companies are using are not keeping pace with the threat landscape, creating serious vulnerabilities that impact businesses globally.”