AI-generated code is little doubt altering how software program is constructed, but it surely’s additionally introducing new safety challenges. Greater than 50% of organizations encounter safety points with AI-produced code typically or regularly, in accordance with a late 2023 survey by developer security platform Synk.
For Endor Labs, that chance proved alluring sufficient that it selected to vary course considerably. Endor began off serving to firms safe their open-source bundle dependencies — in actual fact, it even raised a $70 million Sequence A spherical simply two years in the past to develop its developer pipeline governance service.
However the startup’s co-founders Varun Badhwar and Dimitri Stiliadis noticed rising demand elsewhere — recognizing and combating vulnerabilities within the rising lots of code that engineers use AI to generate and fine-tune.
At the moment, Endor runs a platform that, it claims, can’t solely evaluate code and determine dangers, but in addition suggest “exact” fixes and apply them mechanically. The corporate gives a plugin for AI-powered programming instruments like Cursor and GitHub Copilot that scans code because it’s written and flags points.
The pivot may show to be a clever alternative. On Wednesday, Endor introduced that it closed a $93 million Sequence B spherical led by DFJ Progress, with participation from Salesforce Ventures, Lightspeed Enterprise Companions, Coatue, Dell Applied sciences Capital, Part 32, and Citi Ventures.
Badhwar (CEO) stated that the spherical values Endor at “orders of magnitude greater” than its Sequence A valuation. The proceeds will likely be used to develop Endor’s platform, he added. The Sequence B brings the startup’s complete capital raised to $163 million.
“This new spherical positions us to proceed delivering, even in a more durable macro surroundings than comparable firms confronted 5 to 10 years in the past,” Badhwar informed TechCrunch. “We raised now as a result of we’re seeing robust momentum — 30x annual recurring income development since our Sequence A in 2023 — and this lets us double down on delivering outcomes for our clients.”
A number of months in the past, Endor launched a device designed to assist organizations spot the place AI fashions and companies combine with their codebase, and consider the integrations for safety flaws. The thought is to offer higher oversight as AI programming instruments proliferate, stated Badhwar.
Endor says it now protects greater than 5 million functions and runs over 1,000,000 scans every week for purchasers together with OpenAI, Rubrik, Peloton, Snowflake, Egnyte and Dropbox.
“We got here out of stealth in October 2022 — proper as rates of interest spiked — and we’ve seen robust traction ever since,” Badhwar stated.
Ramin Sayar, enterprise accomplice at DFJ Progress, stated his agency invested as a result of Endor discovered itself on the proper place, on the proper time.
“As generative AI transforms coding practices, builders are producing huge quantities of code with out thorough visibility and management,” Sayar informed TechCrunch. “Endor Labs shouldn’t be solely setting a brand new normal in software safety — the crew is making a motion by launching their expanded platform.”
Endor at present has 133 staff concentrated in its places of work in Palo Alto and Bangalore.