Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

Sqreen raises $2.3 million in seed funding to bring application protection to all developers

Paris-based startup raised a $2.3 million seed round to ship app “protection-as-a-service”. It provides every developer a simple way to get the security their applications deserve.

The company was founded in 2015 by two security experts who spent 10 years hacking and assessing product security at Apple.

Security has been kept away from products for decades as an experts reserved arena. Developers have equated it to constraints that limit their freedom to code and to painful processes.

Like New Relic is for app performance monitoring, Sqreen is focused on pleasing developers. It only takes 30 seconds to install. No source code modification or special skills are required. With Sqreen, applications are automatically instrumented in order to diagnose the vulnerabilities when they occur. Applications also benefit from additional protection logic. Issues are spotted directly in the code base. Sqreen is the perfect approach to security in continuous integration.

Sqreen provides real-time defenses that continuously adapt and learn from millions of attacks sourced from the community. Thousands of security threats are supported - including SQL injection, cross site scripting, code/command/file injections, and cryptographic weaknesses.

"Conventional approaches to security haven’t done much to make applications stronger and the complexity intimidates most developers. We have been attacking products for years and have experienced firsthand the disconnect between diagnosis and remediation. Our goal is to put security back into products and let the developers embrace this role again. It is pretty obvious that products should now be embedding their own security logic to protect themselves", said Pierre Betouin, CEO of Sqreen.

“Security is overlooked by early-stage companies growing fast, but it quickly becomes a high priority once they are more mature. Few developers are enthusiastic about the extra workload and rigour involved in securing applications, so a tool like Sqreen is a real boon for the industry. We are bullish on all solutions saving time for developers and Sqreen is definitely one of them”, said Rodolphe Menegaux from Alven.

Alven Capital is leading the round. Point Nine Capital, Kima Ventures, 50Partners and several well known angels also participated, including Marc Verstaen, EVP Product Development at Docker, Thibaud Elziere, former CEO at Fotolia, Francis Nappez, cofounder of Blablacar, Philippe Plichon, head of southern Europe at Dropbox, and Justin Ziegler, cofounder of PriceMinister.

About Sqreen
Sqreen is a SaaS protection platform for web-based applications that installs in 30 seconds seconds without modifying the source code and provides detection and prevention logic to offer real-time protection and monitoring. Once deployed, the protection provides real time defenses that continuously adapt to and improve from millions of attacks sourced from the community. The company’s mission is to embed security logic into every connected application. It was founded in July 2015 by product and security experts and is currently headquartered in Paris, France.

About Alven Capital
Alven Capital is an independent venture capital firm with over €250 million under management and investments in fast-growing startups in the internet and technology industries.

About Point Nine Capital
Point Nine is a leading VC based out of Berlin, that invests in promising SaaS firms, online marketplaces and mobile. The fund and its managers, Pawel Chudzinski and Christoph Janz, have backed a number of highly successful Internet companies such as Delivery Hero, Clio, Shiftplanning, Vend, Westwing and Zendesk from their earliest stages.

Les médias du groupe Finyear

Lundi 2 Mai 2016