Australia cybersecurity training platform getes $50m Series C
Paladin Capital Group, a US-based specialist investor in cyber solutions and infrastructure, has led a USD 50m Series C for Australia-founded Secure Code Warrior, a security training platform aimed at coders.
Existing investors Goldman Sachs and ForgePoint Capital also took part in the round. Paladin and AirTree Ventures provided USD 3.5m in Series A funding in 2018 and then re-upped in a USD 47.6m Series B in 2019. That round, which was led by Goldman and also featured ForgePoint and Cisco Investments, was described as the largest-ever investment of its kind in an Australian cybersecurity business.
Secure Code Warrior was founded in Chippendale, New South Wales in 2015 by Belgian cybersecurity professionals, Pieter Danhieux and Matias Madou. They currently serve as CEO and CTO, respectively.
The company helps developers learn, apply, and retain software security principles, relying on agile learning methods designed to provide an engaging experience. Developers watch videos and read step-by-step guides to understand potential vulnerabilities, before moving on to immersive simulations – likened to putting pilots into flight simulators – coding labs, assessments, and even tournaments.
The same 10 software vulnerabilities have been responsible for most security breaches over the past two decades, yet “many businesses will still opt for the post-scan, post-breach, post-event remediation approach, muddling through the human and business ramifications of it all,” the company’s website states. Secure Code Warrior claims to be differentiated in that it takes a human-led approach.
“Secure Code Warrior has proven they are at the forefront of enabling developers to remain agile while learning secure coding,” said Mourad Yesayan, a managing director at Paladin, in a statement.
“The value they deliver to 600 enterprises and counting has never been more important in this dynamic, artificial intelligence-influenced global economy where secure-aware developers and engineering teams are a massive asset.
The new capital will support the company’s platform development and go-to-market efforts. The Series B was mainly used for global expansion, including the establishment of operations covering the US west coast and Asia Pacific. Secure Code Warrior now has offices in Sydney, Boston, Portland, London, Bruges, and Reykjavík. Techcrunch reported that the company is aiming to turn profitable in 2025.
Paladin is currently deploying its USD 372m Cyber Fund II, which focuses on cybersecurity and online safety, including businesses that protect critical infrastructure from cyberattacks and networks from ransomware.
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