Blubracket Raises $12M Series A for Source Code Security

BluBracket Secures $12 Million in Series A Funding

BluBracket, a startup specializing in source code repository security, particularly within distributed environments, has announced the completion of a $12 million Series A funding round.

Investment Details

Evolution Equity Partners spearheaded the investment, with participation from existing investors including Unusual Ventures, Point72 Ventures, SignalFire, and Firebolt Ventures. This new funding brings the company’s total raised capital to $19.5 million, building upon a previously secured $6.5 million seed round.

The Impact of Remote Work

The shift to remote work environments last year significantly increased the demand for BluBracket’s services. Co-founder and COO, Ajay Arora, notes that the pandemic prompted organizations to reassess their code security measures.

“Organizations experienced heightened concerns regarding the security of their source code and preventing potential leaks. This created a substantial opportunity for us,” Arora stated. “The transition to a fully remote development workforce, coupled with the critical importance of code as intellectual property, necessitated greater visibility into existing vulnerabilities.”

Growth Through a Bottom-Up Approach

Prior to the pandemic, BluBracket successfully attracted developers and security professionals through a bottom-up strategy. Offering a free community version of their software proved to be a valuable lead generation tool.

This free version served as an effective entry point for their sales process, becoming even more crucial as the impact of COVID-19 intensified.

Current User Base and Expansion

Currently, BluBracket’s product suite is utilized by multiple thousands of developers, DevOps engineers, and SecOps professionals across numerous organizations. Priceline is a key reference customer, though other prominent companies prefer to remain anonymous.

Future Plans and Company Values

The company presently employs 30 individuals and intends to double its workforce by year-end. A core value of BluBracket is a commitment to diversity and inclusion in its hiring practices.

“We firmly believe in aligning our actions with our values. My co-founder, Prakash Linga, and I are directly evaluated on our success in building a diverse and inclusive team,” Arora explained. Recruiters are also held accountable for presenting a diverse candidate pool for all open positions.

Company Origins

Founded in 2018, the BluBracket team originates from Vera, a startup focused on securing documents in transit. Vera was acquired by HelpSystems in December 2020, following the departure of Arora and Linga to establish BluBracket.

BluBracket provides a crucial service in the evolving landscape of software development and security.