AI-generated code is little question altering how software program is constructed, however it’s additionally introducing new security challenges. Greater than 50% of organizations encounter security points with AI-produced code typically or often, in keeping with a late 2023 survey by developer security platform Synk.
For Endor Labs, that chance proved alluring sufficient that it selected to vary course considerably. Endor began off serving to corporations safe their open-source package deal dependencies — actually, it even raised a $70 million Sequence A spherical simply two years in the past to develop its developer pipeline governance service.
However the startup’s co-founders Varun Badhwar and Dimitri Stiliadis noticed rising demand elsewhere — recognizing and combating vulnerabilities within the rising plenty of code that engineers use AI to generate and fine-tune.
At this time, Endor runs a platform that, it claims, cannot solely evaluation code and determine dangers, but additionally advocate “exact” fixes and apply them robotically. The corporate presents a plugin for AI-powered programming instruments like Cursor and GitHub Copilot that scans code because it’s written and flags points.
The pivot may show to be a smart alternative. On Wednesday, Endor introduced that it closed a $93 million Sequence B spherical led by DFJ Development, with participation from Salesforce Ventures, Lightspeed Enterprise Companions, Coatue, Dell Applied sciences Capital, Part 32, and Citi Ventures.
Badhwar (CEO) mentioned that the spherical values Endor at “orders of magnitude increased” than its Sequence A valuation. The proceeds will likely be used to broaden Endor’s platform, he added. The Sequence B brings the startup’s complete capital raised to $163 million.
“This new spherical positions us to proceed delivering, even in a more durable macro setting than related corporations confronted 5 to 10 years in the past,” Badhwar informed information.killnetswitch. “We raised now as a result of we’re seeing robust momentum — 30x annual recurring income development since our Sequence A in 2023 — and this lets us double down on delivering outcomes for our clients.”
A number of months in the past, Endor launched a software designed to assist organizations spot the place AI fashions and companies combine with their codebase, and consider the integrations for security flaws. The thought is to supply higher oversight as AI programming instruments proliferate, mentioned Badhwar.
Endor says it now protects greater than 5 million purposes and runs over 1,000,000 scans every week for patrons together with OpenAI, Rubrik, Peloton, Snowflake, Egnyte and Dropbox.
“We got here out of stealth in October 2022 — proper as rates of interest spiked — and we’ve seen robust traction ever since,” Badhwar mentioned.
Ramin Sayar, enterprise accomplice at DFJ Development, mentioned his agency invested as a result of Endor discovered itself on the proper place, on the proper time.
“As generative AI transforms coding practices, builders are producing huge quantities of code with out thorough visibility and management,” Sayar informed information.killnetswitch. “Endor Labs shouldn’t be solely setting a brand new customary in utility security — the workforce is making a motion by launching their expanded platform.”
Endor presently has 133 workers concentrated in its workplaces in Palo Alto and Bangalore.
