Jit, an Israeli startup promising technology to help developers simplify security when deploying cloud apps, has banked an eye-opening $38.5 million in seed-stage funding.
The funding round was Boldstart Ventures. Venture capital outfit Insight Partners and Tiger Global Management also invested.
The $38.5 million round is abnormally high for seed-stage funding and signals a strategic shift to make bigger bets on early stage companies with brand-new products and no significant revenue stream.
Jit, launched less than a year ago, describes itself as a “Product-Security-as-a-Service platform for modern engineering teams with a DevOps mentality.” The company said its technology can be used to convert security plans from static documents and spreadsheets into living and continuously running code in repositories.
In a note announcing the funding, Jit said its self-serve platform for open source and cloud security tools can provide a simplified way of bringing security into DevOps.
Jit said it will use the investment to speed up product development and expand its integration and support for open source security controls.
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