The IT security company from Bonn will accelerate the development of its software testing platform and simultaneously define the new standard for software security.
Software security company Code Intelligence has successfully completed a 2 Mio € financing round led by LBBW Venture Capital alongside OCCIDENT and investiere - following its seed round in September 2018 led by High-Tech Gründerfonds alongside Digital Hub Bonn.
Code Intelligence has developed an enterprise-ready, powerful platform allowing continuous and automated dynamic application security testing during the entire software development lifecycle. Critical vulnerabilities and bugs can be identified earlier and, hence, they are substantially quicker and cheaper to fix.
The company uses modern fuzzing approaches as a technological basis that can be integrated seamlessly into the daily workflow and toolchains of every software developer. For the first time, fuzzing becomes usable and can be integrated with low effort. This way, fuzzing can be utilized by every software developer and not only by security testing or fuzzing experts - or, as we call it, fuzzing for the masses.
“Our mission is to bring cutting-edge testing technologies to the mainstream. With the new funding we have the opportunity to make our testing platform even more effective and thus become an essential part of the DevSecOps landscape.”,
says Sergej Dechand, CEO and Co-Founder of Code Intelligence.
Since 2018, the four founders Dr. Khaled Yakdan, Dr. Henning Perl, Sergej Dechand and Prof. Matthew Smith created a thriving startup with 16 members and the vision to revolutionize the way the world tests software. The new financing will help them to provide new features for the testing platform, including a cloud-based offering, and to innovate the sales and customer success efforts. So far, global companies such as Deutsche Telekom AG, Robert Bosch GmbH and Deutsche Börse AG have already placed their trust in the excellent security know-how from Bonn.
“We strongly believe in the outstanding expertise of the Code Intelligence team and their vision to substantially improve software security testing in multiple sectors e.g. IoT, automotive, fintech, healthcare, etc. Essentially, it has the potential to become a standard tool for developers”,
comments Andreas von Richter, Managing Director at LBBW Venture Capital.
“True to our theme tomorrow happens today, we have invested in Code Intelligence because we see CI Fuzz as an opportunity to decisively advance software development in the future”,
says Michael Pauer, Investment Director at OCCIDENT.
"Cybersecurity is an investment topic that has attracted much attention recently and will only grow in importance with increasing digitalization",
says Romeo Bütler, Investment Manager at investiere.
About the ‘CI Fuzz’ Software Security Testing Platform
The security testing platform CI Fuzz enables development teams to develop robust and secure applications by automating cutting-edge application security testing technologies (e.g. smart fuzzing) that previously required specialized security experts. Due to the fully automated platform and the user-friendly interface, bugs can be found early in the software development lifecycle (“shift left”), saving over 60% of developers’ time and therefore development costs.
Furthermore, CI Fuzz produces no false positives and maximizes the productivity of costly developers on programming code instead of hunting bugs and security issues. It simultaneously simplifies processes and creates collaboration between development, security, and operations teams. The testing platform is so far available for C/C++, Java (all JVM languages), and Golang and can be deployed both in the cloud and on-premise.