Aikido Security, headquartered in Ghent and specializing in software security applications designed for SaaS companies, has revealed the successful acquisition of €5 million in funding through a Seed round.
The funding round was jointly led by Notion Capital and Connect Ventures, with active participation from Inovia Capital Precede Fund I, led by Raif Jacobs, and former Google CFO Patrick Pichette.
Angel investors also joined in, including Christina Cacioppo, CEO of Vanta.
Kamil Mieczakowski, Partner at Notion Capital, comments, “With the growing pressure on small and mid-sized businesses to demonstrate heightened levels of cyber resilience, the security tools landscape they encounter remains riddled with challenges, marked by fragmentation, complexity, and cost.”
“Aikido offers a potent yet user-friendly end-to-end solution for code and cloud security, empowering businesses of all sizes to safeguard themselves and their clientele through a singular tool capable of turning every developer into a security expert.”
“Despite being just one year old, the company is already experiencing rapid growth, and we are excited to support them on this promising journey, alongside our partners at Connect Ventures and a remarkable cohort of angel investors and advisors,” Mieczakowski adds.
Aikido Security intends to utilize the funding to enhance the functionality of its software, with a specific emphasis on refining user experience and automating triage capabilities.
The financial infusion will also facilitate the expansion of the company’s workforce across various departments, including product development, marketing, and sales. Aikido Security aims to broaden its customer base, with a particular focus on bolstering its presence in Europe and North America.
Willem Delbare, Co-founder of Aikido Security, explains, “Many SaaS companies, in the process of building their platforms, tend to ‘secure’ their new software by deploying a multitude of disparate tools.”
“This approach often generates significant noise for developers and results in numerous isolated ‘false positives’ that demand attention but do not pose real threats. This places a substantial burden on the personnel responsible for platform security.”
“The challenge is further exacerbated by rapid growth, which is common in the SaaS industry, creating significant challenges for those overseeing security.”
Delbare adds, “On the other hand, if startups opt not to adopt these tools, they may resort to expensive security software solutions that only cover a limited range of application security aspects. Consequently, companies are left with substantial gaps in their software’s security, despite substantial investments.”
“Vulnerability scanners, due to their cost, are primarily tailored for larger enterprises, leaving SMEs and mid-market companies without a suitable solution for enhancing the security of their expanding platforms.”
A Software Security App Designed with Developers in Mind
Established in 2022 by Willem Delbare, Roeland Delrue, and Felix Garriau, Aikido Security is on a mission to streamline SaaS security with its comprehensive tool, consolidating various application security features.
This integrated approach not only enhances control but also significantly reduces false positives. The platform has already saved more than 1,500 developer working days by effectively addressing false positives.
Aikido Security places a strong emphasis on prioritizing vulnerability resolution based on severity and ensures data integrity within the platform, thereby fostering business continuity and security, even in the face of personnel changes.
Willem Delbare explains, “Throughout my career, I have launched multiple SaaS startups and wasted countless hours piecing together a patchwork of tools required to secure a new platform. In founding Aikido, I envisioned a superior way to identify critical breaches while mitigating the distractions posed by ‘non-issues’ that drain an engineer’s time.”
“We are proud to be the sole company in Europe pursuing this path, reflecting a revitalized entrepreneurial spirit on the continent. Our customer base now spans startups to companies with over 300 developers, resulting in more than 1,000 installations in just one year—a noteworthy achievement in the realm of emerging SaaS solutions,” Delbare adds.