Female-Founded Cybersecurity Startup Wabbi Raises Over $2M in Seed Funding

PRESS RELEASE

BOSTON (PRWEB) NOVEMBER 02, 2021 -- Wabbi, a continuous security platform, announced today it has raised over $2 million in an oversubscribed seed funding round led by Mendoza Ventures, with participation from Cisco Investments.

Wabbi will use the capital to scale its team to accommodate growing customer demand. The funding enables Wabbi to continue delivering industry-leading technology to simplify continuous security management by ensuring code is always ready to ship in line with the most current security standards.

“We are excited to add the support of strategic investors to help us deliver our unmatched approach to bridge the gap between security and development. The investment will enable us to meet the rapidly growing demand from new and existing customers to turn application security from a bottleneck into a strategic advantage through continuous security deployment,” said Brittany Greenfield, Wabbi CEO and Founder.

As an RSA Innovation Sandbox 2021 finalist, Wabbi enables companies to assimilate application security processes into development pipelines to produce and scale application security across enterprises. Development teams are empowered to manage security in their existing workflows. At the same time, security teams have visibility into and take accountability for the management of application security by all stakeholders in a single platform. Wabbi continues to drive growth across new and existing customers, including Fortune 1000 organizations. Earlier this year, the company was awarded a U.S. Air Force SBIR Phase I Contract.

“Wabbi is the right product at the right time for the right market. Every development team I have shown this solution to is genuinely excited about its ability to solve a problem they have been grappling with for too long. The DevSecOps market has matured to the point that it can meet the collaboration Wabbi offers. As a female-funder, I am proud to invest in Wabbi with an incredibly talented female-founder at the helm of a high-growth cybersecurity company. This investment, and Brittany’s leadership will have ripple effects across both our industries,” said Senofer Mendoza, Co-Founder and General Partner of Mendoza Ventures.

Research shows that 9 out of 10 breaches begin with defects in code. Startling stats like that inspired Greenfield to establish Wabbi in 2018 to upend the industry, which was solely focused on perimeter security. After graduating from Duke University, Greenfield held roles at NetSuite and UKG, focusing on driving go-to-market strategies. Subsequently, she transitioned her deep knowledge of enterprise technology into cybersecurity while at MIT Sloan School of Management and during her time at Cisco and Cybereason.

“In a highly fragmented market riddled with point solutions trying to solve the problem of deploying security in modern development pipelines, Wabbi’s Continuous Security platform is unparalleled,” said Greenfield. “By focusing on deploying end-to-end application security programs, organizations can enter the next era of Application Security. An era no longer limited to the lines of code, but inclusive of everything the application touches.”

“Application security is not just about lines of code, but everything that the code touches. With Wabbi, organizations can bridge the divide between the agility that DevOps teams want with the rigorous standards that security teams demand,” said Janey Hoe, Vice President, Cisco Investments. “Wabbi is a direct investment from our Cisco Investments diversity-focused Aspire Fund. We are excited to see diversity represented in the Wabbi leadership team.”

Other strategic investors who participated in the round include Work-Bench, NLA Ventures, Dr. James Cash, CEO and Chairman at CPARU, Founder and CEO of StormForge, Matt Provo and ML/AI Expert and HBS Professor, Karim Lakhani. Previous investors include Black Duck Software Founder and former CEO, Doug Levin, Federal Technology Executive, Harvey Morrison, Tech CEO & Director, Lou Shipley, and Underscore VC.

About Wabbi
To meet the ever-escalating demands of deploying application security in today’s development pipelines, Wabbi’s Continuous Security platform allows organizations to confidently ship code that meets their application specific security standards, without sacrificing agility or velocity. By orchestrating each enterprise’s unique application security program, security teams capture centralized, automated governance, while development teams are empowered to manage security as part of their day-to-day workflows, unifying processes between Development, Security & Operations teams. With Wabbi, there is no beginning, no end - only Continuous Security.

About Mendoza Ventures
Mendoza Ventures is an early and growth stage Fintech, AI, and Cybersecurity venture fund that provides an actively managed approach to VC. We invest in areas where we have deep domain expertise, companies with early revenue, a clear value proposition and using a proven due diligence model. We focus on diversity as playing an important role in our investment decisions, as roughly 75% of our portfolio consists of start-ups led by immigrants, people of color, and women. Based in Boston, Mendoza Ventures is women-owned and the first LatinX-owned venture fund on the East Coast. The firm is run by Adrian and Senofer Mendoza, entrepreneurs and prior operators who are veterans of the Boston start-up ecosystem.