I’m pleased to announce that TrueFort has just closed a $30M Series B round of financing, led by Shasta Ventures, with the participation of Canaan and existing investors Evolution Equity Partners, Lytical Ventures and Emerald Development Managers.
New funding round validates our vision
This funding represents an important milestone for TrueFort. It validates our vision for building a holistic application protection platform that goes beyond providing basic security hygiene. It also delivers customers deep visibility into behavior that enables threat detection, response, and control capabilities.
When we founded TrueFort in 2015, we set out to create a product that would address the problems we faced managing IT infrastructure and security for some of Wall Street’s biggest banks. We needed a single solution that would provide visibility across the entire application stack, including software, processes, identity, and networking – essentially the entire ecosystem – though we found that none existed.
Zero Trust Application Protection is the future of security
We choose a tough problem to solve. Plus, we also wanted to build a product that would provide Zero Trust security, cloud workload protection, and critical capabilities like microsegmentation. Back then, customers wanted single-purpose, best-of-breed products. Now the industry has caught up to us. Customers no longer want 20-30 products because they can’t ingest them, derive value from them, or afford them.
As we chose to integrate with enforcement products like endpoint detection and response, threat intelligence feeds, and infrastructure software, we can replace point tools, provide more value and save our customers money.
Customers are moving in our direction. Protecting applications is now pivotal for defending against ransomware, data breaches, and much more. It is also a central component in meeting emerging mandates like Zero Trust in regulated industries, including financial services, government, telecoms, healthcare, and others.
Having customers trust us to help them solve difficult problems has been very rewarding and a great source of motivation. They implicitly agree with what we are doing and are asking us to do more.
TrueFort’s future is just getting started
It’s been an exciting journey building out our team and attracting great talent. Working in a startup is not for the faint of heart. There’s a lot to do and learn, so having a good team around you makes the process easy.
This new infusion of financing will support hiring across the company, enable us to expand go-to-market activities and invest in more R&D initiatives, including offerings that help enterprises better manage their application risk posture.
The future is truly bright.
Read the Press Release on our Series B Funding
Learn more about how TrueFort powers Zero Trust Application Protection.