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Cybersecurity Funding

Software Reliability Firm Steadybit Raises $6 Million

Steadybit was founded in 2019 and has now raised a total of $13.8 million in funding.

Solingen, Germany-based Steadybit has raised $6 million in a Series A funding round led by Paladin Capital Group, and with participation from existing investors Boldstart Ventures, Angular Ventures and NewForge.

Steadybit helps software developers improve software reliability through the concept of chaos engineering. Chaos engineering is a form of stress testing. “By simulating disturbances and potential failures, Steadybit aids organizations in preempting and mitigating system vulnerabilities,” says the firm.

The idea is to inject unexpected conditions to analyze how the software recovers from or reacts to injected faults, and learn from it.

“As digital systems become more complex and interdependent, organizations are at greater risk of failures and system outages,” explains Ken Pentimonti, MD at Paladin. “Many products fail to meet customer expectations as software engineering teams are focused on releasing new features quickly rather than product reliability.”

The firm is also introducing a new feature to its platform: Reliability Advice. It monitors and collects data on the software being tested, and discovers reliability failure gaps. Instructions on how to fix these errors are provided. “This feature will empower our customers to manage their systems proactively, ensuring top-tier performance and reliability,” comments Benjamin Wilms, CEO and co-founder of Steadybit.

The Steadybit platform is primarily aimed at DevOps. But greater reliability means stronger code with fewer potential bugs. Fewer bugs mean fewer vulnerabilities; and fewer vulnerabilities mean fewer breaches.

Steadybit GmbH was founded in 2019 by Benjamin Wilms, Dennis Schulte, and Johannes Edmeier. It raised $7.8 million in two Seed Rounds in 2020 and 2022, bringing the total raised to $13.8 million.

Related: Security and DevOps – What We Learned at DOES17

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Related: Cloud Security Firm Lacework Raises $42 Million

Written By

Kevin Townsend is a Senior Contributor at SecurityWeek. He has been writing about high tech issues since before the birth of Microsoft. For the last 15 years he has specialized in information security; and has had many thousands of articles published in dozens of different magazines – from The Times and the Financial Times to current and long-gone computer magazines.


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