Aikido Security raises €5m to offer best-in-class noise reduction in its security solution for growing SaaS businesses

GHENT, Belgium , Nov. 14, 2023 /PRNewswire/ -- Aikido Security, the developer-first software security app for growing SaaS companies, today announced raising a €5m Seed round co-led by Notion Capital and Connect Ventures; with investment from Inovia Capital Precede Fund I, led by partners Raif Jacobs and former Google CFO Patrick Pichette; together with an impressive roster of angel investors including Christina Cacioppo, CEO of Vanta. The funds will be used to double down on its best-in-class user experience and auto-triaging, whilst expanding internationally.

In today's digital landscape, where data breaches can cost companies an average of $4.45 million, Aikido Security is determined to revolutionize security solutions for growing SaaS businesses by offering an all-in-one platform that consolidates multiple aspects of application security into a single tool. This approach provides greater control, significantly reducing false positives in security checks.

Willem Delbare, CEO & CTO of Aikido, highlights the security challenges faced by SaaS companies, explaining, "Startups often struggle with managing scattered security tools, resulting in noise and false positives that burden security staff. On the other hand, opting for expensive, fragmented security solutions leaves crucial gaps in a company's defense. Vulnerability scanners are often tailored for larger enterprises, leaving SMEs and mid-market companies without an effective solution. With Aikido, we want to bring a 9-in-1 security platform to the ones who need it most: security teams that are done juggling between multiple tools with confusing pricing models and countless irrelevant alerts."

The industry is adopting Aikido's all-in-one solution at great speed. To date, the company achieved over 1000 installs in its first year and has saved over 1,500 developer working days that would have been wasted on false positives.

Kamil Mieczakowski, Partner at Notion Capital, commends Aikido's impact on small and mid-sized businesses, stating, "Aikido provides a powerful yet user-friendly solution for code and cloud security, empowering businesses of all sizes to enhance their cybersecurity through a single, transformative tool."

Aikido's comprehensive vulnerability ranking system differentiates critical threats from less significant vulnerabilities and safeguards security data within the platform to ensure uninterrupted business operations. Aikido's streamlined onboarding swiftly identifies and addresses critical vulnerabilities, enabling SaaS companies to focus on core functions. By adopting a 'shift left' approach, Aikido prevents security issues from compromising code, allowing quick resolutions before production or breaches occur.

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SOURCE Aikido Security BV