Ukrainian venture capital syndicate TOLOKA announced an investment in Bright Security, one of the most promising companies in the field of application security (AppSec), which is changing the approach to securing software and APIs. The investment amounted to $1 million as part of an expanded Series A round.
Ukrainian venture capital syndicate TOLOKA announced an investment in Bright Security, one of the most promising companies in the field of application security (AppSec), which is changing the approach to securing software and APIs. The investment amounted to $1 million as part of an expanded Series A round.
Bright Security has developed an innovative AI platform, STAR, that automatically detects, remediates, and protects against vulnerabilities in enterprise applications. The company operates in the dynamic security testing (DAST) segment, which is expected to grow from $1.8 billion to over $6 billion by 2028.
TOLOKA invested in Bright Security because of the startup's potential. Bright Security shows good growth rates, has a profitable business model, and has developed an interesting product. In addition, investors note the team's experience and see potential interest in the company from major players in the market, which could lead to a successful sale in the future.
The investment terms were favorable for TOLOKA: they used SAFE with the option to get a stake cheaper in the next round of financing. This means that in the event of a successful sale of Bright Security at a high valuation, investors can make a significant profit.
Previously, dev.ua reported that TOLOKA invested $1.7 million in Portoro, an American company that is changing the luxury short-term rental market with the help of artificial intelligence.
