With the sudden shift to remote and distributed working due to the current global pandemic and popularity for these models to potentially stick around, there has been a surge in demand for cyber-security. An underserved area that has seen a surge in demand is Development Security Operations platforms (DevSecOps). These platforms help provide monitor and security against open source code that is pushed into a companies code repository that could compromise security. With more and more engineering teams moving to a distributed work environment companies are looking for new tools to help monitor these code pushes from afar.
Evidence of this trend lies in several recent funding rounds into emerging players in this market. Snyk ($150M Series C in Jan 202) Fossa ($23.2M Series B in Mar 2020) and WhiteSource ($35M Private Equity Round in Oct 2018).
While cyber-security has been ripe for PE/VC investments for the last decade, the rapid shift onset by the COVID-19 pandemic has pushed new demand for new security technology to specifically address security issues that are a product of the remote and distributed working dynamic. This recent activity is an example of how even in crowded marketplaces such as cyber security, as businesses and technology evolves and changes there are new needs and thus new opportunities for disruption. It will be interesting to watch how the cyber-security market evolves as more remote, hybrid companies become the norm and new security demands arise.