Endor Labs Receives Strategic Investment from Citi Ventures – Intelligent CIO Africa

Endor Labs announces strategic investment from Citi Ventures.

The announcement, presented as further validation of Endor Labs’ unique approach to securing the software supply chain, comes less than a year after the company received $70 million in oversubscribed Series A funding from Lightspeed Venture Partners (LSVP), Coatue, Dell Technologies Capital, Section 32, and more than 30 industry-leading CEOs, CIOs, and CTOs.

Since its founding in 2022, Endor Labs has quickly gained popularity among Fortune 500 enterprises as well as emerging cloud companies.

Endor Labs has been nominated for the RSA Conference Innovation Sandbox 2023 and Black Hat Startup Spotlight 2023.

“Financial institutions employ tens of thousands of developers and often outpace technology companies in terms of innovation and delivery of new applications,” said Varun Badhwar, CEO and co-founder of Endor Labs.

“Software supply chain security is a top priority for these organizations today because ignoring it or doing it poorly not only exposes the organization to significant risk, but also costs hundreds of millions in lost developer productivity. Endor Labs already serves some of the largest financial institutions in the U.S., and our partnership with Citi gives us even greater insight into how to address issues of this scale.”

With a presence in regions from Palo Alto to Singapore to Tel Aviv, Citi Ventures invests in category-defining startups that help revolutionize the financial services market.

“Citi operates one of the largest software development organizations in the world,” said Clark Smith, CISO, engineering and architecture lead and managing director of Citi.

“At this scale, lost productivity due to false positives is a growing problem. Endor Labs seamlessly integrates with the developer workflow and helps identify supply chain risks that could impact our business.”

“Endor Labs represents the next significant innovation in application security,” said Matt Carbonara, chief investment officer, enterprise technology, Citi Ventures.

“Their platform represents a technological paradigm shift in the way vulnerability analysis is done. For a long time, developers have had to manually analyze vulnerabilities to assess whether they are exploited in production. We believe that Endor Labs’ availability analysis will be a must-have technology for enterprises, focusing developer efforts on only the most critical and accessible vulnerabilities and saving them countless hours. We are incredibly excited to be an investor and partner with Varun and the team.”

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