Probely raises 7.7 million euros in Series A round

SAN FRANCISCO, Nov. 15, 2022 /PRNewswire/ -- Probely, the premier cloud-based dynamic application security testing solution, announced today that it closed a 7.7 million euros Series A round co-led by Iberis Capital, a Portuguese venture capital with around 300 million euros in assets under management, and Semapa Next, a Lisbon-based venture capital firm that invests in Series A and B rounds in European-based companies.

The international investor specializing in cybersecurity, TIIN Capital, as well as current investors Bright Pixel Capital (former Sonae IM), Caixa Capital, Portugal Ventures, and EDP Ventures, also participated in the funding round.

"Our team of co-founders came from an Application Security team. We all experienced first-hand the hard task of scaling application security testing.", Nuno Loureiro, CEO, and co-founder of Probely explains. "Given the shortage in Security professionals, it can only scale if you shift security testing left, allowing developers to become the protagonists in automated security testing. We designed and built Probely to enable both Security and Development teams to embrace application security testing."

Probely is a powerful solution that identifies vulnerabilities in websites, web applications and APIs, and provides guidance on fixing them. Aimed at developers and cybersecurity teams, Probely integrates seamlessly into development processes (SDLC) and continuous integration pipelines (CI/CD) to automate and streamline security testing across organizations.

"Today, most organizations have some sort of their business online. We all know the outcome of security breaches, from fines to reputational damages for the organization, and fraud for users. We want to be a security enabler within the organizations."

In a statement about the funding, Hugo Augusto, CEO of Semapa Next said, "the Probely team has strong technical and product development experience in such a critical area as cybersecurity and demonstrated the need for DevOps teams to adopt their solution. We are thrilled to support Probely in expanding its European base and growing in the American market".

This investment round will enable Probely to strengthen the team and continue its international growth, especially to the United States.

SOURCE Probely