The Malmö-based security startup Debricked, with roots in Lund university, has raised 18 million swedish krona in venture capital. The money will be used to launch their cloud-based security saas-service on an international market.
Investment from venture capital firms
The investment of a total of 1.8 million euros comes from the venture capital firms Luminar Ventures and Brightly Ventures together with previous investors. These consist of a group of experienced business angels and investors such as Simon Josefsson (previously Yubico), Niclas Mollin (fd InRiver) as well as the institutional investors Almi Invest and LU Holding (Lund university).
“Debricked has created a highly relevant tool that increases safety and saves time, we are intrigued by the leading-edge product leadership and insights of the Debricked team”, says Katja Bergman, Partner at Brightly Ventures.
Debricked has developed a product that handles vulnerabilities in open source libraries. Using machine learning, they have managed to automate the process of identifying and fixing vulnerabilities in the open source used by its customers. By analyzing the code at an early stage the service helps developers build software which is safe from the core.
“We realised that most of our customers have great control of the code that they write themselves, but less so the imported open source components”, says Daniel Wisenhoff, CEO and co-founder.
In open source software the source code is publicly displayed for everyone to see, modify and use. “Open source can be viewed as reusable components that can be used over and over by anyone. The phenomenon has made software development faster than ever”, says Daniel. The commercial adoption of open source has increased dramatically the past few years. But with the accessibility and openness, security risks follow.
“Since the source code is public, so are the vulnerabilities. This means that your software vulnerabilities are visible for everyone to see. That’s where Debricked comes in!”Daniel, CEO
With customers such as the e-doctor Kry, Volvo Car Retail Solutions and the Swedish security company Advenica, Debricked hopes to continue their success on both the Swedish and international markets. “We have seen that the demand for a service such as Debricked’s is increasing at a steady pace, says Magnus Bergman”, partner at Luminar Ventures.
Debricked is a tech startup born out of a study at Lund university. The company develops a saas service which helps companies handle vulnerabilities in open source. Debricked also offers events and education within cybersecurity.