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Sysdig will use the newly raised funds to expand its market presence and leadership in enabling enterprises to run cloud-native workloads in production assertively
FREMONT, CA: Sysdig, Inc., the secure DevOps leader, raised $70 million in Series E round of financing. The funding round was led by Insight Partners with participation from existing investors, Bain Capital Ventures, and Accel. Glynn Capital and Goldman Sachs also joined this round as new investors. Goldman Sachs joined the investing partners after being a customer for two years. Sysdig's total funding raised to date is $206 million.
Sysdig will use the newly raised funds to expand its market presence and leadership in enabling enterprises to run cloud-native workloads in production assertively. The Sysdig Platform addresses both IT operations spaces and DevOps security. According to an IDC forecast, the worldwide DevOps software tools market will reach $15 billion in 2023.
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"Containers and Kubernetes development is disrupting the way organizations deploy and run containers, but when you look at the history of major technological changes, Kubernetes is still early. We invest in high-growth companies that are disrupting the old way of doing things, companies that will lead to this decade-long transition. Sysdig's novel approach of providing a single source of truth for both security and monitoring for container-based applications has proven more effective, more scalable, and higher ROI," said Richard Wells, Managing Director at Insight Partners.
"As a customer, we are impressed with Sysdig's technology and the company's open-source approach to security. We look forward to Sysdig joining our investment portfolio and seeing their continued growth as a leading Kubernetes security vendor," said Soumya Rajamani, Vice President of Merchant Banking at Goldman Sachs and Sysdig Board Observer.
International expansion, which is a key priority for the company, will be bolstered by this investment. Sysdig also announced today the launch of a Japanese subsidiary, Sysdig Japan GK.
Sysdig is the only security enterprise that supports a secure DevOps approach by integrating security and scrutiny into a single platform. Cloud teams can maximize availability, embed security, and ensure compliance. By integrating security into the DevOps process, teams realize the business goals in their transition to cloud-native. Open by design, Sysdig provides the performance, scale, and usability that enterprises demand.
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