Bearer, the Data First Security Software Company, Closes $8 Million Seed Funding Round – GlobeNewswire

| Source: Bearer Bearer
San Francisco, California, UNITED STATES
SAN FRANCISCO, Oct. 25, 2022 (GLOBE NEWSWIRE) — Bearer, the data-first security software company, today announced the closing of a second tranche of seed funding, bringing the total equity financing raised to date to $8 million. Alven led the $4 million second tranche round with participation from Kima Ventures, Partech and Point Nine.

“Our goal is to make data security pragmatic for developers and a natural, frictionless step in their usual software workflow while assuring companies and their security teams that their code is more secure than ever before,” said Guillaume Montard, co-founder and CEO of Bearer. “Our solution takes code quality to the next level. We pinpoint exact data security risks as opposed to tracing random potential security flaws.”
The Bearer data security SaaS solution features three major innovations:
$17 Billion Data Security Market by 2028
Industry analyst firm Verified Market Research forecasts that the global data-centric security market size was valued at $3.39 Billion in 2020 and is projected to reach $17.12 Billion by 2028, growing at a CAGR of 22.45% from 2021 to 2028.
“Managing data security is becoming a top priority for businesses with customers and governments demanding better data protection, and the global rise of complex reporting rules that vary by business type, country and geography,” said Thomas Cuvelier, partner at Alven, an independent early-stage venture capital firm that has backed more than160 startups over 22 years with more than $2 billion in funds currently under management. “Repeat entrepreneur Guillaume has been able to attract very experienced technical talent and build innovative IP to tackle this massive market.”
Bearer’s solution is built around the most popular and powerful open source code analysis engines that combine with proprietary heuristics to detect sensitive data flow and data security risks. Bearer is a horizontal data security solution that has gained early traction in markets where privacy and data security are critical to its customers who must meet the strictest government regulations and compliance requirements, such as healthcare, eCommerce and financial services.
“When implementing security and privacy controls in our products, we must continuously ensure that they are effective,” said Romain Mekarni, security engineer at Doctolib, a medical services company with more than 320,000 healthcare personnel and 70 million patients in Europe. “We partner with Bearer to build the best developer-friendly platform to improve the day-to-day work of building new features secured by design, right from the source code. We share their user-first mindset and greatly appreciate the collaboration.”
About Bearer
Bearer, the data-first security software company, pioneered a solution for developers to automatically detect sensitive data flow and data security risks while coding. Its policy engine proactively monitors data security policies before releasing code and its unique remediation workflow prioritizes the most critical issues – including business logic flaws – for quick resolution between security and engineering teams. Venture-backed with more than $8 million in seed financing, Bearer is used in markets where privacy protection and data security are business-critical, including eCommerce, financial services, and healthcare. Follow us on Twitter @trybearer
Editorial Contact:
Lonn Johnston
Flak42
lonn@flak42.com
+1.650.219.7764

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