StackHawk Raises $20.7 Million in Series B Funding
May 23, 2022

StackHawk has secured $20.7 million in capital co-led by Sapphire and Costanoa Ventures, with participation from Foundry Group and other high-value investors.

With this funding, StackHawk will invest in product development to maintain its market leading position in developer-first application and API security testing. This latest financing brings StackHawk's total funding raised to $35.3 million.

"Security has never been more important than it is today. Organizations of all sizes across all industries know that they have a gap in how they approach security, and they are recognizing the need for what we do even before we speak with them," said Joni Klippert, Co-Founder and CEO. "... the market pull for our solution drove the funding round. We will use the new capital to continue to invest in our product, grow our leadership team and significantly increase funding for marketing, sales and partnerships. Our recently announced Snyk integration, which is already driving value with joint customers, is a great example of this."

"There is a serious gap for modern tooling that helps teams efficiently deliver secure applications. In the same way CI/CD has revolutionized how developers deliver quality applications, StackHawk is ensuring security testing is an extension of the process, making security part of the code quality discussion for developers," said David Hartwig, Partner at Sapphire Ventures and a Board Director at StackHawk.

"StackHawk's track record of delivering is what made us want to co-lead this round. The executive team's blend of expertise across security and DevOps has created a tool that every developer will need," said Greg Sands, Founder and managing partner of Costanoa Ventures. "From our experience investing in high-growth software companies, we know security is no longer optional. Finding modern security tooling is top of mind for today's engineering leaders, especially for those in highly-regulated industries with strict regulations and compliance standards for data protection."

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