Deep Security Startup ShiftLeft Raises $20M Series B

Security vendor ShiftLeft said today that it raised $20 million in Series B funding, bringing the startup’s total to almost $30 million. Thomvest Ventures and SineWave led the Series B, with existing investors Bain Capital Ventures and Mayfield also participating. The new investment comes less than 18 months after the startup’s Series A, which raised $9.3 million. ShiftLeft CEO and co-founder Manish Gupta told SDxCentral that he expects more rounds in the future. The latest funding will be used to build adoption of the platform and the applications it covers. The company also will build its global sales and marketing initiatives. Along those lines, it hired Jim Sortino as vice president of worldwide sales. Sortino previously worked atTrend Micro and Dome9 Security. ShiftLeft launched in October 2017. A year later – last September — ShiftLeft’s technology scored a true positive rate of 100 percent, with 25 percent false positives in the Open Web Application Security Project (OWASP) Benchmark for Security Automation, Version 1.2 testing. That beat the commercial average by 45 percent, according to a company white paper.