Swedish cybersecurity startup Debricked raises 1.8 million euro
The Malmö-based security startup Debricked, with roots in Lund university, has raised 18 million swedish krona in risk capital. The money will be used to launch their cloud based security SaaS-service on an international market.
The investment of a total of 1.8 million euros comes from the venture capitalists Luminar Ventures and Brightly Ventures together with previous owners. These consist of a group of experienced business angels and investors such as Simon Josefsson (Yubico), Niclas Mollin (fd InRiver) as well as the institutional investors Almi Invest and LU Holding (Lund university).
– Debricked has created a highly relevant tool that increases safety and saves time, we are intrigued by the leading-edge product leadership and insights of the Debricked team, says Katja Bergman, Partner at Brightly Ventures.
Debricked has developed a product that handles vulnerabilities in open source code. Using machine learning, they have managed to automate the process of identifying and solving vulnerabilities in the open source code used by its customers. By analysing the code in an early stage, the service helps developers build software which is safe from the core.
– We realised that most of our customers have great control of the code that they write themselves, but less so on the imported components, says Daniel Wisenhoff, CEO and co-founder.
Open source code is code whose source is publicly displayed for everyone to see, modify and use. “Open source can be viewed as bricks that can be used over and over. The phenomenon has made software development faster than ever, says Daniel. The commercial adoption of open source code has increased dramatically the past few years. But with the accessibility and openness, security risks follow.
– Since the code is on display, so are the vulnerabilities. This means that your software vulnerabilities are visible for everyone to see, Daniel continues. That’s where Debricked comes in!
With customers such as the e-doctor Kry, Volvo Car Retail Solutions and the Swedish security company Advenica, Debricked hopes to continue their success on both the Swedish and international market. – We have seen that the demand for a service such as Debricked’s is increasing in a steady pace, says Magnus Bergman, partner at Luminas Ventures.
Debricked is a tech startup born out of a study from Lund university. The company develops a saas service which helps companies handle vulnerabilities in open source code. Debricked also offers events and education within cybersecurity.