Cybersecurity Expansion Funded: $13.5 Million Series A Secured for Developing Cybersecurity Infrastructure
In a significant move for the cybersecurity industry, Zip Security, a pioneering platform for security, compliance, and IT automation, has successfully raised $13.5 million in Series A funding. This brings the company's total funding to approximately $21 million.
The funding round, led by Ballistic Ventures, also saw the participation of Silver Buckshot and Mantis VC. Notably, Barmak Meftah, Co-founder and General Partner of Ballistic Ventures, has joined Zip's board of directors, further strengthening the company's strategic position.
Zip Security was founded by Josh Zweig, CEO, and Gabbi Merz, CTO, both former engineers at Palantir. Josh Zweig, known for his sharp operations acumen, shares that the company aims to make modern security automated, accessible, and cost-effective for businesses.
The platform utilises advancements in AI and automation to help businesses manage security controls. It integrates with key security providers such as CrowdStrike, Google Workspace, and Okta, streamlining operations like endpoint protection, identity management, and compliance workflows.
The cybersecurity market opportunity is estimated to be $2 trillion, ten times what is sold today, according to Nicole Perlroth, Co-founder of Silver Buckshot Ventures and Venture Partner at Ballistic Ventures. Perlroth believes that Zip Security is crucial for protecting the long tail of suppliers and smaller players in the cybersecurity market.
The company is addressing the problem of strong security for organisations that can't afford traditional approaches. With the new funding, the Zip Security team plans to expand its engineering and go-to-market teams, build integrations with more third-party security tools, and extend its reach in regulated industries such as finance and healthcare.
Perlroth further states that Zip Security's mission is to democratise security, not just for the biggest players, but for everyone. Originally designed for organisations without dedicated security teams, the platform is now poised to help small and mid-sized businesses automate IT protection and compliance with less manual effort.
[1] Source: Zip Security press release
The successful Series A funding of $13.5 million, led by Ballistic Ventures, indicates a strategic interest in Zip Security's finance for furthering cybersecurity technology, business expansion, and IT automation. With Barmak Meftah, Co-founder of Ballistic Ventures, joining Zip's board of directors, the company aims to leverage this expertise to protect the long tail of suppliers and smaller players in the cybersecurity market, particularly those in finance and healthcare, where strong security is essential but traditional approaches are often cost-prohibitive.
