- ReversingLabs has secured $56 million in a Series B fundraising round headed by Crosspoint Capital Partners, with participation from ForgePoint Capital and Prelude.
- The money, which brings the company’s total capital to $81 million, will be used to scale its sales and marketing operations.
- The platform evaluates file and binary-based risks that emerge from online, mobile, email, cloud, and app development.
- ReversingLabs takes a proactive and transparent approach to understand the dangers that exist within software, even if you don’t have access to the source code.
ReversingLabs, a cybersecurity startup located in Cambridge, Massachusetts, has secured $56 million in a Series B fundraising round headed by Crosspoint Capital Partners, with participation from ForgePoint Capital and Prelude. The money, which brings the company’s total capital to $81 million, will be used to scale its sales and marketing operations as it increases its worldwide reach, according to co-founder and CEO Mario Vuksan.
Several high-profile events have occurred in the last year in which attackers attempted to infiltrate companies via the software supply chain. According to a recent Anchore poll, 64% of firms were harmed by a supply chain assault in 2021, and 60% have declared protecting the software supply chain a key priority for 2022. The assaults emphasize the need for safeguards that can aid in the validation of the integrity of software and its components throughout the development, deployment, and adoption lifecycles.
Mario Vuksan and Tomislav Pericin created ReversingLabs in 2009 to tackle the rising danger with static analysis and file reputation services that give insight into malware and its location. The platform evaluates file and binary-based risks that emerge from online, mobile, email, cloud, and app development in industries such as software, financial services, defense, retail, and insurance.
“Because of the depth and complexity of today’s cybersecurity assaults, companies can no longer trust that software solutions from their suppliers are safe,” CrossPoint managing partner Dr. Hugh Thompson stated in a news statement. “ReversingLabs takes a proactive and transparent approach to understand the dangers that exist within software, even if you don’t have access to the source code.”
ReversingLabs’ AI engine
The “Titanium” engine, an AI system that collects thousands of file kinds and continually analyzes an index of over 10 billion files for potential risks, is at the heart of the ReversingLabs platform. The system decompresses files in the underlying object structure to extract embedded executables, libraries, documents, resources, and icons, and then maps “human-readable” indications to categories.
Security analysts receive threat intelligence to help them prioritize risks, while threat intelligence and hunting teams receive a workbench for deep file analysis, presumably to help them speed up investigations.
“Every company, whether it is an integrated software vendor producing software or an enterprise purchasing or utilizing software, needs controls to manage the software supply chain attack surface,” said Crosspoint managing partner Greg Clark in a statement.
“This attack surface is complex, and conventional techniques such as source code scanning are inadequate. Every step of the coding, compile, build, and deploy cycle must be validated. In the fight against these dangers, ReversingLabs is an invaluable friend. Their approach is one-of-a-kind, difficult to reproduce, and extremely valuable.”
According to Gartner, ReversingLabs competes in a cybersecurity industry that is expected to be valued at $170.4 billion in 2022. However, the company claims to have made breakthroughs, gaining clients from four of the top six software companies as well as two of the top five defense and aerospace corporations. As a partner, it also includes SolarWinds, the IT monitoring and management business at the heart of the massive U.S. federal government breach earlier this year.
“As part of our Secure By Design initiatives, we have paid close attention to preserving the integrity of our software development and deployment pipeline against even the most determined and sophisticated attackers,” said SolarWinds president and CEO Sudhakar Ramakrishna in a statement. “We are aiming to assist the industry to create new standards for safe software development, and ReversingLabs has become a key component of our overall efforts.”