App Security Startup Apiiro Raises $100 Million in Series B Funding

Application security startup Apiiro has announced a new Series B round of funding, raising $100 million from several prominent Silicon Valley investors. The round comes weeks after Palo Alto Networks pulled out of acquisition talks with the startup, which makes a cloud-native security platform used by security and development teams to prevent and proactively fix critical problems.

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The company plans to use the capital infusion to fortify and improve its offerings as it forges ahead on its own.

Unlike other platforms, Apiiro starts checking applications in the design phase, rather than being deployed during continuous integration and delivery (CI/CD) operations. It also provides guardrails and context for developers as applications move through design, building, and production.

Founded in 2019, Apiiro is led by co-founder and CEO Idan Plotnik, who plans to use some of the funding to expand the company’s channel sales as well as grow its sales-and-marketing operations.

Plotnick is cautious, however, about overhiring, especially at a time when cybersecurity companies like Snyk and Cybereason have been laying off employees.

The funding round was led by General Catalyst with participation by Greylock and Kleiner Perkins. Apiiro’s updated valuation was not released.