Funding round secures $40M for Legit Security

Application security posture management firm Legit Security has pulled in $40 million from a Series B funding round, bringing total investment to $77 million, according to TechCrunch. Newly raised funds will be allocated by Legit toward strengthening its research and development, sales, and marketing teams, said Legit Security co-founder and CEO Roni Fuchs. While Legit was originally conceived by Fuchs and his co-founders Liav Caspi and Lior Barak to strengthen software supply chain security amid the lacking capabilities of traditional app security scanners, the platform has been improved by considering flaws identified by other sources and integrations with traditional tools. Legit has also been touted to enable "code to cloud" protection for app dev environments, as well as determine the source of cloud production environment vulnerabilities. "The ASPM category is hot right now, and customer interest is increasing due to the combination of improved security and risk management and productivity and cost savings. Legit's platform is differentiated from other ASPM vendors by the strength of its auto-discover, correlation, and analysis capabilities," Fuchs added.