Contrast Security Valuation, Funding & Investors

Contrast Security is valued at $1B as of November 2021.

Last Contrast Security valuation

$1B

Series E · Nov 2021

Last Contrast Security funding round

$150M

Series E · Nov 2021

Cumulative funding Contrast Security raised

$269M

across 5 funding rounds

Key investors in Contrast Security

  • Acero Capital
  • General Catalyst
  • Battery Ventures
  • M12
  • AVP
  • Warburg Pincus

Contrast Security Overview

About Contrast Security

Contrast Security is a code security platform embedding analysis and attack prevention into applications. Its deep instrumentation provides runtime protection without scans or extra infrastructure. The Bethesda-headquartered company serves enterprises securing software portfolios against known and unknown threats.


Founded

2014

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$1B (Nov 2021)

Contrast Security Valuation

Contrast Security is currently valued at $1B, based on its Series E in November 2021.

The $150M round was led by Liberty Strategic Capital, with participation from General Catalyst, Battery Ventures, AVP, Acero Capital, M12 and 1 other investor.

Contrast Security valuation by funding round

Contrast Security valuation by funding round
DateStageValuation
Nov 2021Series E$1B

Contrast Security Funding History

Contrast Security has raised a total of $269M across 5 funding rounds.

Contrast Security's first fundraising round was a $8M Series A in June 2014. The most recent completed round was a $150M Series E in November 2021.

Contrast Security funding rounds

Contrast Security funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2021Series ELiberty Strategic Capital (lead); General Catalyst; Battery Ventures; AVP; Acero Capital; M12; Warburg Pincus$150M$1BContrast Security provides next-generation code security tools, focusing on runtime application security protection (RASP), interactive application security testing (IAST), and software composition analysis (SCA) to enable secure DevOps. The platform embeds sensors in applications for real-time vulnerability detection and attack prevention, addressing modern software development challenges like DevOps, microservices, and cloud-native apps. In an earlier $65M Series D round led by Warburg Pincus with participation from Battery Ventures, General Catalyst, M12, AXA Venture Partners, and Acero Capital, total funding reached $122M to fuel technology innovation, international expansion, and customer success amid rising demand for software security. Sources confirm strong growth traction, including 551% revenue growth recognized in the 2021 Deloitte Technology Fast 500 (ranked 238th in North America), attributed to demand for code security amid increasing cyber threats from vulnerable software. Financial performance highlights from prior periods include FY2018 metrics like over 120% YoY ARR growth, net upsell/expansion rates over 135%, addition of 520 new customers, and 500% YoY growth in $1M+ transactions. Contrast continues positioning as a leader in application security, with later recognitions in G2 reports and partnerships like Datadog.
Feb 2019Series DWarburg Pincus (lead); General Catalyst; Battery Ventures; AVP; Acero Capital; M12$65M-Contrast Security, a pioneer in embedding vulnerability analysis and exploit prevention directly into modern software, completed a $65 million Series D funding round on February 28, 2019, led by Warburg Pincus with participation from existing investors Battery Ventures, General Catalyst, M12 (Microsoft's venture fund), AXA Venture Partners, and Acero Capital. This oversubscribed round brought the company's total funding to $122 million. The investment aims to strengthen its position as the leading platform for secure DevOps, accelerate technology innovation, expand field operations and international presence, and grow its customer-success team to meet rising demand for modern software security solutions. The company addresses challenges in contemporary software development, including reliance on third-party and open-source components, microservices, API-centric architectures, and complex cloud deployments, where legacy security tools fall short, potentially restricting development or exposing enterprises to data breach risks. Warburg Pincus highlighted Contrast Security's next-generation application security platform amid global digital transformation, high-speed DevOps, and cloud adoption trends creating significant security opportunities. CEO Alan Naumann emphasized strong enterprise customer support, industry analyst validation, and top-tier investor backing to establish continuous software protection. Warburg Pincus, a firm with extensive security investments like CrowdStrike and BitSight, sees Contrast as a scalable modern approach to application security.
Oct 2017Series CBattery Ventures (lead); General Catalyst; AVP; Acero Capital; M12$30M-Contrast Security, founded in 2014 and headquartered in Los Altos, California, develops application security software that embeds protection directly into applications for real-time vulnerability detection and runtime security. The company offers a platform for code security, enabling developers to build secure software with self-protecting modules that disrupt traditional application security approaches. It serves enterprise customers including Fortune 500 companies like BMW, DocuSign, AXA, Zurich Insurance, Walgreens, Intuit, and the American Red Cross, with tens of thousands of developers using its tools. On or around October 19, 2017 (sources cite September 18 or December 7, 2017), Contrast Security raised $30 million in a Series C funding round led by Battery Ventures, with participation from Acero Capital, AVP (Atlantic Vantage Point or AXA Venture Partners), General Catalyst, and M12 (Microsoft's venture fund). The 2017 funding contributed to Contrast's early growth in DevSecOps integrations and enterprise adoption. Prior rounds included Series B ($16M in May 2016) and earlier Series A financings. Total funding accumulated to around $269M by 2021 across seven rounds. Subsequent developments included Series D ($65M in February 2019/2020 led by Warburg Pincus) for global expansion and R&D, and Series E ($150M in November 2021) for market share gains, acquisitions like CloudEssence, and APAC/EMEA growth.
Sep 2016Series BGeneral Catalyst (lead); Paul Sagan; Acero Capital; Ron Gula; John Thompson$16M-Contrast Security raised $16 million in a funding round on September 28, 2016, led by General Catalyst with participation from Acero Capital, John Thompson, Paul Sagan, and Ron Gula. The company develops technology to enable applications to defend themselves against attacks.
Jun 2014Series AAcero Capital (lead)$8M-Contrast Security, founded in 2014, develops an application security platform that embeds code analysis and runtime protection to detect vulnerabilities and prevent exploits in software applications. The company serves major enterprises including BMW, DocuSign, AXA, Zurich, and SOMPO Japan, partnering with AWS, IBM, Google, Microsoft, and VMware. In June 2014, Contrast Security raised an $8 million round from Acero Capital, marking its seed or early funding. This brought early cumulative funding to support development of self-protecting software technology. Acero Capital participated as an early and ongoing investor, appearing in later rounds including a $16 million Series B in 2016 with General Catalyst and others, and a $150 million Series E in November 2021 led by Liberty Strategic Capital. The 2021 Series E valued the company at over $1 billion, achieving unicorn status, with total funding reaching $269 million across multiple rounds. Funds supported global expansion, market share growth, and strategic opportunities amid rising demand for DevSecOps solutions in sectors like healthcare, finance, and government.

Who has invested in Contrast Security?

10 investors have backed Contrast Security across its funding rounds, including Acero Capital, General Catalyst, Battery Ventures, M12, AVP and Warburg Pincus.

Lead investors include Liberty Strategic Capital, Warburg Pincus, Battery Ventures, General Catalyst and Acero Capital.


Contrast Security Investors

Investors in Contrast Security by funding rounds participated
InvestorHQRoundsRoleFirst check
Acero CapitalUnited StatesSan Francisco, CA5LeadJun 2014
General CatalystUnited StatesSan Francisco, CA4LeadSep 2016
Battery VenturesUnited StatesBoston, MA3LeadOct 2017
AVPFranceParis3ParticipantOct 2017
M12United StatesUnited States3ParticipantOct 2017
Warburg PincusUnited StatesNew York City, NY2LeadFeb 2019
Paul SaganCanadaToronto1ParticipantSep 2016
Liberty Strategic CapitalUnited StatesWashington, DC1LeadNov 2021

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Acquisitions by Contrast Security

Contrast Security has acquired 1 company to date.

Last acquisition by Contrast Security was on January 1st 2021. Contrast Security acquired CloudEssence for undisclosed valuation.


Latest Acquisitions by Contrast Security

CloudEssence
Description
CloudEssence is a platform for continuous application security testing in cloud-native development environments. It performs automated scans for vulnerabilities during CI/CD pipelines.
HQ CountryIsrael
HQ City
Tel Aviv
Deal Date1 Jan 2021
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Contrast Security Competitors

Contrast Security competitors include listed companies like NSFOCUS and Rapid7, and private ones like Aikido Security, Aqua Security, BigID and BlueVoyant.

Public and private companies comparable to Contrast Security
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Aikido SecurityBelgiumGhentPrivate$13M-$1B76.9x
Aqua SecurityIsraelRamat GanPrivate--$1B-
BigIDUnited StatesNew York City, NYPrivate$100M-$1B10.0x
BlueVoyantUnited StatesNew York City, NYPrivate--$1B-
NSFOCUSChinaChinaPublicly listed$379M$37M$955M2.4x
Rapid7United StatesUnited StatesPublicly listed$860M$63M$836M1.3x

Contrast Security Public Comps

Contrast Security is still privately-owned, but its public comps include NSFOCUS, BeiJing Certificate, Yubico, Rapid7, Riskified, Asiainfo Security, Mitek Systems, Eastcompeace Tech, Red Violet and CANCOM.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
NSFOCUS$379M$37M2.6x2.4x26.1x25.6x
BeiJing Certificate$125M($12M)6.7x-(70.9x)-
Yubico$226M$19M3.3x3.2x39.7x25.6x
Rapid7$860M$63M1.3x1.3x17.4x6.8x
Riskified$345M($31M)1.8x1.6x(20.3x)19.0x
Asiainfo Security$1.2B($11M)1.2x1.1x(126.2x)339.7x
Mitek Systems$180M$37M4.1x3.7x19.9x11.2x
Eastcompeace Tech$197M$26M4.8x-36.4x-

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Common questions about Contrast Security

When was Contrast Security founded?Contrast Security was founded in 2014.
Where is Contrast Security headquartered?Contrast Security is headquartered in San Francisco, CA, United States.
Is Contrast Security publicly listed?No, Contrast Security is a private, VC-backed company.
What is Contrast Security's valuation?Contrast Security was last valued at $1B in its Series E in November 2021.
How much funding has Contrast Security raised?Contrast Security has raised $269M across 5 funding rounds.
What was Contrast Security's last funding round?Contrast Security's last funding round was a $150M Series E in November 2021, led by Liberty Strategic Capital.
Who are Contrast Security's investors?Contrast Security's investors include Acero Capital, General Catalyst, Battery Ventures, AVP, M12, Warburg Pincus, Paul Sagan, Liberty Strategic Capital, Ron Gula and John Thompson.
Which companies are comparable to Contrast Security?Companies comparable to Contrast Security include Aikido Security, Aqua Security, BigID, BlueVoyant, NSFOCUS and Rapid7.
How many companies has Contrast Security acquired?Contrast Security has acquired 1 company, including CloudEssence.

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