[Funding News] Endor Labs Receives Strategic Investment from Citi Ventures

Endor Labs, a leader in software supply chain security announced a strategic investment from Citi Ventures. In a further validation of Endor Labs’ unique approach to securing the software supply chain, this comes less than a year after the company received $70M in oversubscribed Series A financing from Lightspeed Venture Partners (LSVP), Coatue, Dell Technologies Capital, Section 32 and more than 30 industry-leading CEOs, CISOs and CTOs.

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Endor Labs was founded in 2022 by industry veterans and serial entrepreneurs Varun Badhwar and Dimitri Stiliadis to solve a massive yet largely neglected market need in application security. With the goal of shipping products faster, development teams rely on more and more dependencies as they develop their applications. These dependencies include Open Source Software (OSS), LLMs, containers, code repositories and arbitrary tools in CI/CD pipelines, which can introduce risks that development and security teams have no visibility into.

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Today, application security teams spend countless hours investigating which risks should be prioritized, while developers drown in waves of uncontextualized security alerts. Endor Labs surfaces meaningful, reachable risks across dependencies in the software development lifecycle, helping teams get the evidence they need to fix only what matters.

Since its inception, Endor Labs has quickly gained traction with Fortune 500 enterprises as well as emerging cloud-native companies. Endor Labs was named a finalist at the 2023 RSA Conference Innovation Sandbox and 2023 Black Hat Startup Spotlight, a SINET16 Innovator Award Winner, and has been cited as one of the Best Places to Work in the San Francisco Bay Area.

“Financial institutions employ tens of thousands of developers, and often outpace technology companies with innovation and shipping new applications,” said Endor Labs CEO and co-founder Varun Badhwar. “Software supply chain security is now a board-level concern for these organizations, because ignoring it or getting it wrong not only exposes the organization to significant risk, but costs hundreds of millions in lost developer productivity. Endor Labs already serves some of the largest financial institutions in the US, and our work with Citi gives us even better insights into how to solve problems at this scale.”

“Citi runs one of the largest software development organizations in the world,” said Clark Smith, Head of Engineering and Architecture for CISO & Managing Director at Citi. “At this scale, lost productivity due to false positive alerts is a compounding issue. Endor Labs integrates seamlessly into the developer workflow and helps pinpoint supply chain risks that may affect our business.”

About Endor Labs

Endor Labs secures everything your code depends on throughout the SDLC. Start by creating a more efficient and effective dependency management program with consolidated reachability-based SCA, SAST, container scanning, artifact signing, and CI/CD security. Reduce security tool noise by 90% by focusing on the risks that matter, when they matter the most. Accelerate remediation by understanding upgrade impacts and pushing out backported security patches when risk of upgrading is too high. Achieve compliance with global standards including CIS, NIST, SSDF, FedRamp, PCI DSS v4, SLSA, NIST, SOC2, and more.