Farukh Kitchlew | Feb 19, 2024 | 0
Endor Labs Raises $70M to Boost Open-Source Security
Endor Labs has successfully closed a $70 million Series A funding round. Lightspeed Venture Partners led the funding, with participation from Coatue, Dell Technologies Capital, Section 32, and several angel investors. This notable investment, especially remarkable for a Series A round, comes just ten months after the company’s launch, pushing Endor’s total funding to $95 million.
The newly acquired funds will strengthen Endor’s workforce, currently at 55 employees, and enhance technical capabilities while expanding its go-to-market strategies. Co-founder and CEO Varun Badhwar emphasized the funding’s significance, particularly amid the tight funding landscape.
Established in 2021 by Varun Badhwar and Dimitri Stiliadis, Endor Labs aims to balance developers’ productivity and software supply chain security. The company’s platform empowers developers to manage and secure open-source dependencies efficiently, which is critical in the software landscape yet exposes organizations to vulnerabilities. Moreover, Endor’s platform identifies “reachable” and “exploitable” risks within open-source code.
The company recently introduced “DroidGPT,” an AI tool combining OpenAI’s ChatGPT with Endor’s risk data to aid open-source selection. Badhwar highlighted Endor Labs’ role in addressing challenges stemming from the current economic climate and ongoing pandemic. Despite competition in open-source security management, he asserts Endor provides a unique, comprehensive solution surpassing existing offerings.
The successful funding round and growing demand for Endor’s services indicate a promising trajectory. With capital infusion, Endor Labs aims to expand its reach, continuing to provide robust security solutions for the open-source software landscape.