DevOps Platform Sysdig Raises $70 Million In Series E Funding

DevOps Platform Sysdig Raises $70 Million In Series E Funding 

by NeoTech Post

Sysdig, a secure DevOps platform, raised $70 million in Series E funding led by Insight Partners, with participation from previous investors, Bain Capital Ventures and Accel. 

Glynn Capital also joined this round, along with Goldman Sachs, who joined after being a customer for two years. 

Including the latest funding round, Sysdig has raised $206 million to date.

The company plans to use the new funds to extend market presence and leadership in enabling enterprises to run cloud-native workloads in production confidently. 

IDC forecasts the worldwide DevOps software tools market will reach $15 billion in 2023.

According to the company, Kubernetes is the de facto operating system of the cloud; however, as organizations move workloads into production, security and visibility are the most significant barriers. Traditional tools and processes leave enterprises blind because they do not provide visibility with application context for these environments. To reap the benefits of the agility that containers and Kubernetes provide, enterprises need an approach that integrates security and compliance into DevOps workflows. This approach is often referred to as secure DevOps or DevSecOps. 

According to Gartner, “By 2021, DevSecOps practices will be embedded in 60% of rapid development teams, as opposed to 20% in 2019. By 2023, more than 70% of enterprise DevSecOps initiatives will have incorporated automated security vulnerability and configuration scanning for open-source components and commercial packages, which is a significant increase from fewer than 30% in 2019.”

“Containers and Kubernetes will take over the world. Over the last year, we have seen competitors partner in an attempt to deliver capabilities similar to ours, but the reality is, these approaches cannot provide the level of visibility and security that we can, even when they use multiple tools. As Kubernetes adoption increases, CISOs will continue to recognize that their IT teams and security tools need to adapt. In 2020, we look forward to partnering with more Global 2000 organizations in their cloud-native journeys,” said Suresh Vasudevan, Chief Executive Officer of Sysdig.