Cycode acquires cybersecurity startup Bearer for $10 million
Cycode acquires cybersecurity startup Bearer for $10 million
The integration of Bearer’s technology into Cycode’s complete ASPM platform will enhance scanning speeds, contextual remediation, and precision, and offer a developer experience for faster shipping
Cycode, which develops Application Security Posture Management (ASPM) solutions, announced on Tuesday the acquisition of U.S. company Bearer. The cost of the acquisition was not revealed, but according to estimates is believed to be around $10 million.
The integration of Bearer’s technology into Cycode’s complete ASPM platform will enhance Cycode’s ability to go deeper on many levels. According to the company, it will make its scanning speeds 31% faster than the competition, will utilize AI for more contextual remediation, enhance precision and offer a developer experience for faster shipping.
Backed by Insight Partners and YL Ventures, Cycode has raised $80 million to date and boasts a number of the top global Fortune 100 customers.
"Our acquisition of Bearer represents a pivotal moment for Cycode and our complete ASPM platform," said Lior Levy, co-founder and CEO of Cycode. "Integrating Bearer’s modern SAST, API discovery and data leak protection technology into our platform is more than an enhancement; we’re providing the easiest way in the market for security teams and developers to interact together and work through security vulnerabilities. This strategic move aligns perfectly with our commitment to making security a team sport, where developers are supported with AI-driven context for faster remediation and velocity than ever before.”
