Bionic Announces $65M Series B Financing from Insight Partners, Cyberstarts, and Battery Ventures
Accelerating investment in R&D, sales & customer success for our rapidly growing Application Security Posture Management platform
Bionic, the industry’s first Application Security Posture Management platform, is proud to announce a $65 million Series B funding round led by New York-based global private equity and venture capital firm Insight Partners. Existing investors, Cyberstarts, and Battery Ventures also participated in the round. Our organization will use this new round to expand investment in R&D and scale our rapidly growing sales and customer success teams.
Reducing Security Risk Through Application Security Posture Management
As enterprises adopt CI/CD, microservices, and serverless technologies, the surface area of applications in the cloud is expanding and evolving. This introduces drift, new attack vectors, and business risks that current cloud security processes and tooling do not address. Furthermore, data privacy regulations like GDPR and CCPA mean the way applications and code consumes personal data in the cloud must be properly managed and secured.
Since launching from stealth in December 2020, Bionic has experienced significant growth and helped dozens of customers such as GSK, Armis, Chipotle, Freddie Mac, and Inspire Brands significantly accelerate their digital transformation projects and de-risk their application security posture. Unlike other offerings, Bionic provides organizations with complete visibility and continuous monitoring of their applications, services, and APIs while detailing data flows, and attack surfaces.
Investing in the Future of Cybersecurity
This new funding marks the expansion of our innovative application security software, as well as an opportunity to share our vision of improved application security and transparency with even more businesses. The information afforded through the Bionic platform is a vital tool for minimizing data privacy and operational risk and proactively addressing critical security issues behind the scenes.
“Bionic provides complete visibility and detection for your application architecture and data flow with an innovative agentless approach. Their platform enables the mapping of application dependencies, components, and configurations, which is key in mitigating security risks introduced by continuous delivery. Bionic uniquely serves the needs of both cybersecurity and DevOps teams with a product functionality that provides immediate value with minor operational impact,” said Steve Ward, Managing Director at Insight Partners. “Bionic’s founding team with its deep understanding of the domain and strong technical experience, have made the company a standout in the industry. We look forward to partnering with the Bionic team as they continue to grow and scale up.”
Bionic is honored to work alongside some of the most prestigious investors and technology advocates in the industry to accelerate organizational growth over the coming months.
“We are thrilled to partner with tier-1 investors — Insight Partners, Cyberstarts, and Battery Ventures — as we continue to build Bionic into the next major cybersecurity software company.”
Bionic Customers Find Unmatched Security and Compliance Through ASPM
“Understanding applications enable GSK to enforce secure architecture at scale. Our business is becoming dependent on our ability to continuously release new software and enterprise applications. Automatically understanding the architecture of applications enables organizations to enforce secure architecture at scale and streamline compliance audits.” said Matthew Mccormack, former Chief Information Security Officer at GSK
“IT teams are dealing with increasing complexity. By adopting Bionic and understanding how our applications are architected, we accelerate our modernization efforts and reduce operational risk,” said Frank Nazzaro, Chief Information Officer at Freddie Mac.
“With Bionic, our visibility is always up-to-date and without the effort. Effective risk and compliance management efforts truly require an up-to-date understanding of your applications’ detailed architecture..” said Curtis Simpson, Chief Information Security Officer at Armis Security
Bionic is an Application Security Posture Management (ASPM) platform that proactively reduces security, data privacy, and operational risk by continuously analyzing the entire architecture of applications as they evolve and change in production. Unlike cloud security posture offerings, Bionic provides deep visibility into the application layer to help organizations manage the risk of their services, APIs, dependencies, and data flows in production. Bionic was founded in 2019 by Idan Ninyo and Eyal Mamo and is based out of Palo Alto, CA.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. Insight Partners has invested in more than 600 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Insight Partners meets great software leaders where they are in their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com.