Nullify Secures $3.41 Million in Seed Round
Nullify, a Sydney, Australia-based cybersecurity startup utilizing AI to detect and resolve code vulnerabilities in real-time, secured $3.41 million (A$5.2m) in seed funding.
The round was co-led by US VCs Two Sigma Ventures and Root Ventures. Angel investors in the seed round include Ely Kahn, VP of Product at SentinelOne, and Pascal Boilatt, a former CIO at CBA and Deutsche Bank, and existing backer Black Nova.
Founded in 2012, Two Sigma Ventures is a venture capital firm based in New York, New York. The firm seeks to invest in companies operating in infrastructure tools, healthcare, real estate, consumer hardware, information technology, biotechnology, artificial intelligence, big data, machine learning, data, and computing sectors.
Root Ventures is a venture capital firm based in San Francisco, California. Founded in 2013, the firm prefers to invest in seed-stage technology companies operating in the fields of hardware, robotics, software, manufacturing and technology, media, and telecom sectors.
The fresh funds will be used for the forthcoming launch in the United States, scheduled for June.
Founded by Shantanu Kulkarni, Tim Thacker, and Tony Mao, Nullify specializes in software development security. The company offers autonomous AI services that assist in application security tasks such as triaging, correlating, and automating security within developers' workflows. The company utilizes artificial intelligence (AI) to assist software developers and security teams in identifying and rectifying potential vulnerabilities in code during the development process. The company uses a combination of open-source resources and generative AI to identify, prioritize, and rectify security flaws.
Funding Details
Company: Nullify
Raised: $3.41M
Round: Seed Round
Funding Month: March 2024
Lead Investors: Two Sigma Ventures and Root Ventures
Additional Investors: Ely Kahn, Pascal Boilatt, and backer Black
Company Website: https://www.nullify.ai/
Software Category: Cybersecurity