RunSafe Security Raises $12 Million in Series B Funding Led by Critical Ventures and SineWave Venture Partners

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Sep 17, 2024, 06:00 ET

Latest investment to combat the memory safety crisis, fueling cybersecurity leaders' mission to protect critical infrastructure and safety critical systems.

MCLEAN, Va., Sept. 17, 2024 /PRNewswire/ -- RunSafe Security, the pioneer of a patented process to immunize software from cyberattacks without developer friction, announced the successful completion of a $12 million Series B financing round. This investment round, which includes participation from new and existing investors, will accelerate new product development and market expansion to EMEA and APAC.

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The investment round led by Critical Ventures and SineWave Venture Partners also includes BMW i Ventures, Working Lab Capital, Lockheed Martin Ventures, HyperLink Ventures, Iron Gate Ventures, Alsop Louie Partners, and NextGen Venture Partners.

"This investment round will enable us to accelerate the rollout of our innovative solution to prevent attacks targeting both known and unknown vulnerabilities across critical infrastructure even when a patch is not available and without the need to rewrite a single line of code," said RunSafe CEO, Joe Saunders.

This raise comes at a crucial time, as the US Government promotes guidance to reduce attack surface in critical infrastructure and the European Union Cyber Resilience Act mandates stringent cybersecurity measures, such as generating a software bill of materials (SBOM) when delivering software products. The partnerships forged will accelerate its expansion around the world, enhancing safety and security while bringing cyber resilience to critical infrastructure.

"RunSafe Security is leading the charge to protect our critical systems from global threats that are infiltrating our infrastructure through devastating memory-based vulnerabilities in software," said Critical Ventures' Managing Partner, Heitor Benfeito. "The company's unique approach to immunizing software fast-tracks protection now, so focus can be on developers building new features. We are thrilled to be part of this journey and supporting the mission to make critical infrastructure resilient."

Kasper Sage, Managing Partner at BMW i Ventures, stated, "Memory attacks pose an increasing threat to embedded systems within connected devices. RunSafe Security's cybersecurity technology immunizes memory-based systems from unknown vulnerabilities and future attacks. BMW i Ventures is committed to advancing safety and security measures across the automotive supply chain and beyond and is excited to partner with Joe and the RunSafe team to support their mission."

RunSafe has experienced remarkable growth recently, with back-to-back years of tripling annualized revenue. This success can be attributed to RunSafe's innovative solutions that address the growing demand for the Cybersecurity & Infrastructure Security Agency (CISA's) Secure-by-design strategies across various sectors.

"RunSafe's products have been adopted by industry leaders such as Vertiv, Lockheed Martin, and the U.S. military, including the Army, Navy, and Air Force," added Saunders. "With the expansion of the RunSafe Security Platform, we solidified our position as cybersecurity crusaders, offering automated solutions for identifying risk, protecting code, and monitoring software for embedded software deployed throughout critical infrastructure."

For more information about RunSafe's innovative solutions and strategic partnerships, please visit https://runsafesecurity.com.

About RunSafe Security
RunSafe Security immunizes software from cyberattacks without developer friction, disrupting hacker economics. Our security techniques inoculate customer systems from an entire class of cyberattacks. Our customers integrate our product across build tools chains without developer friction, protecting open-source software and proprietary native code without changing system behavior nor affecting system overhead. Headquartered in McLean, Virginia, with offices in Huntsville, Alabama and Munich, Germany, RunSafe Security's customers span the aerospace & defense, energy & industrial automation, transportation & autonomy, medical devices, and high tech verticals. Learn more at: https://runsafesecurity.com/.

Media Contact:
RunSafe Security
Staci Cretu, SVP & CMO
Staci@RunSafeSecurity.com
https://runsafesecurity.com

SOURCE RunSafe Security