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BlueFlag Security Emerges from Stealth with $11.5M Seed Funding to Address Critical Gaps in SDLC Security

BlueFlag Security today announced a $11.5 million seed funding round to redefine software development lifecycle (SDLC) security. Led by Maverick Ventures and Ten Eleven Ventures with participation fro...

Business Wire

Introducing the BlueFlag Security platform, a transformative approach that establishes identity security as the bedrock of developer security and governance efforts

SUNNYVALE, Calif.: BlueFlag Security today announced a $11.5 million seed funding round to redefine software development lifecycle (SDLC) security. Led by Maverick Ventures and Ten Eleven Ventures with participation from Pier 88 Investment Partners, the investment will fund the development of BlueFlag’s SDLC security and governance platform, which delivers end-to-end, identity-centric protection across the development lifecycle from code to production.

In the wake of rising software supply chain attacks, the need for a holistic approach to SDLC security has never been more evident. Traditional security approaches have primarily concentrated on safeguarding against risks in open-source software or developer tools. However, these methods fail to address the most critical threat vector within the SDLC: developer identities, both human and machine, which pose risks such as excessive permissions, poor identity hygiene, risky account behavior and more. BlueFlag Security is changing this narrative by addressing the importance of identity security while providing a unified risk perspective across the SDLC to prevent software supply chain attacks.

Founded by Raj Mallempati and Ken Schneider, BlueFlag Security offers a multi-layered defense platform that integrates identity security with open-source software risk management and developer tool posture management. The company’s vision is to create a secure, efficient, and reliable development environment where identities are safeguarded as rigorously as the code and tools itself.

“Our mission is to provide developers with a clean, trustworthy environment. The BlueFlag platform doesn’t just add another layer of protection; it introduces a fundamentally different philosophy that places identity security at the heart of SDLC security and governance,” said Mallempati, CEO of BlueFlag Security. “We invite the industry to join us in championing a future where software development is inherently secure, and where securing developer identities is as integral to our protocols as code scanning and the configuration of developer tools.”

The BlueFlag platform leverages AI-driven insights and an identity-first approach to create a unified defense against emerging threats. As a comprehensive solution for every part of the development lifecycle, the platform anticipates and effectively neutralizes threats before they escalate into breaches. With BlueFlag Security, organizations gain:

  • Continuous Compliance with Secure by Design: A proactive stance on detecting, prioritizing, and mitigating threats within the SDLC, safeguarding against software supply chain attacks from the ground up.
  • Comprehensive SDLC Security Beyond the Code: A comprehensive security framework that extends protection across developer identities, tools, and code, offering a unified perspective on risk within the SDLC.
  • Transformative Identity-First Approach: Utilizing our patented AI/ML-powered Identity Intelligence framework, BlueFlag Security innovates risk mitigation and compliance automation, setting new standards in identity security.

Dr. Chase Cunningham, cybersecurity strategist and host of the DrZeroTrust podcast, had the opportunity to examine the BlueFlag platform. He says, “BlueFlag Security stands out in the field by harnessing AI/ML-driven identity intelligence within its SDLC platform. This innovative approach warrants further exploration by analysts as it presents a paradigm shift in risk management and compliance. By continuously monitoring and analyzing developer identities throughout the software development lifecycle, BlueFlag's solution holds immense potential for mitigating risks, ensuring adherence to regulations, and fostering a trust-based development environment that caters to the needs of security, governance, and compliance professionals.”

Prabhath Karanth, SVP, Chief Security and Trust Officer at Greenlight, shared his perspective on the BlueFlag platform: “I have seen most initial approaches for SDLC security focus on code or developer tools. BlueFlag expands this perspective, highlighting the critical vulnerability of developer identities and the risks of anomalous behavior. Their comprehensive solution effectively addresses these concerns, managing issues like excessive permissions, unauthorized access, and behavioral red flags across human and machine identities. BlueFlag is instrumental in strengthening an organization’s overall SDLC security posture and fostering a more secure development environment.”

To learn more about BlueFlag Security or to schedule a demo, visit www.blueflagsecurity.com. You can read more about BlueFlag’s origins in this article. The team will also be on site at the 2024 RSA Conference in San Francisco, contact us at info@blueflagsecurity.com to set up a meeting.

Investor Testimonials:
"BlueFlag represents a game-changer in the SDLC security and governance landscape. Their platform tackles the holy grail of securing the developer landscape: seamlessly integrating identity security, code scanning, and developer tool posture management. This comprehensive approach fills the critical gap in traditional methods, empowering organizations to build secure software from the ground up. Investing in companies like BlueFlag aligns perfectly with our philosophy of supporting disruptive innovators who are shaping the future of how software is developed and secured.” — Matt Kinsella, Managing Director, Maverick Ventures

“As cybersecurity specialist investors, we are acutely aware of the many complexities in the software supply chain, created through the sprawling number of tools, applications, open-source libraries, code repositories, roles, and credentials that are all part of the software development lifecycle. With BlueFlag’s innovative solution, security teams can feel confident that code is being built in a safe environment, with continuous risk management and up to compliance standards. We are excited to back Raj and Ken as repeat, successful entrepreneurs and thrilled with the talented and experienced team they have already assembled to fuel this product to the next stage.” — Alex Doll, Founder and Managing Member Ten Eleven Ventures

"Supporting companies like BlueFlag aligns perfectly with our vision for the future of secure software development. Their platform addresses the need for end-to-end SDLC governance, seamlessly integrating essential aspects like identity security, code scanning, and developer tool posture management. This unified approach strengthens security and optimizes development processes, making BlueFlag a valuable asset in the evolving cybersecurity landscape.” — Frank Timons, CEO, Pier 88 Investment Partners

About BlueFlag Security
BlueFlag Security is an identity-based developer security company focused on helping manage developer risks across the software development lifecycle (SDLC) process using a single integrated platform. By leveraging advanced AI-driven insights and a unique focus on identity, BlueFlag aims to close the critical gaps left by conventional security measures, offering a robust multi-layer defense against software supply chain risks. This identity-first approach, combined with innovative technology, promises a seamless integration into existing SDLC processes, enhancing security without compromising efficiency. Learn more about BlueFlag Security at www.blueflagsecurity.com.

Fonte: Business Wire

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