Sysdig has announced that it has secured $70 million in Series E funding. The company plans on using this new funding to extend its market presence and leadership in order to enable companies to “confidently run cloud-native workloads in production.”
The round was led by Insight Partners, with participation from previous investors Bain Capital Ventures and Accel and new investors Glynn Capital and Goldman Sachs. According to Sysdig, Goldman Sachs had been a customer for two years prior to becoming one of their investors.
“As a customer, we are impressed with Sysdig’s technology and the company’s open source approach to security. We look forward to Sysdig joining our investment portfolio and seeing their continued growth as a leading Kubernetes security vendor,” said Soumya Rajamani, vice president of merchant banking at Goldman Sachs and Sysdig Board Observer.
Sysdig noted that Gartner has predicted that by 2021, DevSecOps will be a part of 60% of rapid development teams, compared to just 20% in 2019. In addition, by 2023, over 70% of DevSecOps initiatives will incorporate security vulnerability and configuration scanning for open-source components, up from less than 30% in 2019.
According to Sysdig, they support secure DevOps approaches by integrating monitoring and security into a single platform. This allows organizations to realize business goals as they transition to cloud native, the company explained.
“Containers and Kubernetes development is disrupting the way organizations deploy and run containers, but when you look at the history of major technological changes, Kubernetes is still early. We invest in high-growth companies that are disrupting the old way of doing things, companies that will lead this decade-long transition. Sysdig’s novel approach of providing a single source of truth for both security and monitoring for container-based applications has proven more effective, more scalable, and higher ROI,” said Richard Wells, managing director at Insight Partners.
In addition to announcing funding, Sysdig also announced the launch of a Japanese subsidiary, Sysdig Japan GK.