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The company cites the company’s widespread adoption across all industries and the growing demand for its unique code property graphing (CPG) technology as key drivers of record revenue
SANTA CLARA, Calif .– (BUSINESS WIRE) –
Left Shift, Inc., an innovator in automated application security testing, today announced 407% year-over-year revenue growth, driven by increased customer demand for its cutting-edge technologies that drastically reduce attack applications by evaluating actual attack pathways and providing remedial action for the most serious risks. Application security teams and developers using ShiftLeft are able to close more security holes at a faster rate and spend more time focusing on the most important issues with the combination of a speed of dazzling analysis and the highest precision in the industry. During the year, the company achieved a net customer retention rate of 153%, thanks to strong customer support for the product. In Gartner’s Peer Insights platform, ShiftLeft exclusively received five-star ratings based on user reviews in the application security testing market as of October 29, 2021.
ShiftLeft’s innovative Code Property Graph (CPG) combines unique representations of source code and makes them accessible through a high-performance graph database. This architecture supports a growing suite of new product features, including extensible code analysis and precise data flow analysis. With a start-up time of seconds for individual developers and application security teams, ShiftLeft integrates directly into all major continuous integration tools without requiring any modifications to existing code development workflows. Over the past year, ShiftLeft has added several new products delivered to production customers, including:
- Left Shift CORE – A unified code security platform to support DevOps deployment cycles, which includes:
- ShiftLeft Educate – Highly effective contextual security training for developers in the developer workflow.
- Shift Left Highlight – A technology-based service engagement where ShiftLeft experts identify insider attacks in the software development pipeline.
- ShiftLeft Ask an expert – An offering that helps developers sort out and fix critical vulnerabilities.
“When it comes to application security, the first priority for customers is to identify how to prevent attackers from exploiting their applications. ShiftLeft is the first company to bring attack analysis to application security, identifying application vulnerabilities as well as a handful of libraries that actually make the application attackable without forcing developers to quit their workflow or log out. modify their tools in ways that impact their productivity, ”said Manish Gupta, co-founder and CEO of ShiftLeft. “As we continue to add new features at an accelerated rate and increase our market penetration across all verticals, we remain focused on our North Star – helping customers fix as many vulnerabilities as possible. in the shortest possible time, thus minimizing – or even eliminating – the attackability of their applications.
Because ShiftLeft is so efficient, accurate, and easy to use, customers use it more frequently and with better results, proving that modern application security testing can dramatically improve code security at scale and improve performance. security posture. In the AppSec Shift Left 2021 Progress Report, customers using ShiftLeft reported that:
91.4% of new issues were resolved within 1-2 sprints (2-3 weeks) when ShiftLeft is automated in the CI / CD pipeline
92% reduction in SCA tickets by prioritizing open source vulnerabilities based on the attackability of vulnerable libraries
86% of fixes were for critical or well-known issue classes
Median scan time of 2 minutes and 20 seconds
With shorter scan times, 46% of all apps were scanned weekly and 17% daily
In a landmark year of growth, ShiftLeft has won both public and analyst praise. To bring transparency to application security and demonstrate the cutting-edge precision of its technology, ShiftLeft allows any customer to test their OWASP benchmark themselves. “This year, we have allowed any customer to publicly validate our claims by analyzing the benchmark standard from our app. We are the only vendor to have taken such a public stance, ”said Chetan Conikee, CTO at ShiftLeft. To date, based on the data collected from these tests, ShiftLeft has set an industry standard with an accuracy rate of 75%, accounting for both false positives and false negatives. This is the highest rate of all automated application security testing technologies.
According to 2021 Gartner® Critical Capabilities for Application Security Testing Report, “Long considered mature, the application security testing market has entered a period of rapid evolution and change. New vendors and new features respond to changing requirements and application architectures, as well as accelerating the pace of development. ”
In 2021, the company launched its first Shifting Left Conference 1.0 Conference and follow-up Shifting Left 2.0 Conference. Both events provided the developer and application security communities with new and invaluable insight into application security for developers, modern development workflows, code analysis and analysis of software composition. For 2022, the next ShiftLeft event in January will provide attendees with in-depth educational dives, anecdotal lessons, and peer-to-peer networking opportunities. The conference unites security teams and developers, giving them new skills to quickly find and remediate high-severity vulnerabilities and, by extension, to build and publish more secure applications.
To support its accelerated innovation roadmap and customer growth, ShiftLeft has added experienced senior executives including Kit Wetzler as VP of Global Sales, Corinna Krueger as VP of Marketing and David Walker, Director of Alliances. Wetzler will expand global sales and the customer footprint. Krueger will expand its marketing efforts into new channels and expand the marketing of its products. A recognized leader in GTM and business development, Walker will work closely to expand current channel programs and grow business with key business partners.
* Gartner, “Critical capabilities for application security testing», Mark Horvath, Dale Gardner, Dionisio Zumerle, May 26, 2021.
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About Left Shift
ShiftLeft enables software developers and application security teams to drastically reduce the attack on their applications by providing near-instantaneous security feedback on software code with every pull request. By analyzing application context and near real-time data flows with industry-leading precision, ShiftLeft enables developers and the Appsec team to find and remediate the most serious vulnerabilities faster. Using its patented graphical analysis that combines code attributes and analyzes actual attack paths based on actual application architecture, ShiftLeft’s platform searches for context and attack paths. typical of modern applications, through APIs, OSSs, internal microservices, and first-party business logic code, then provides detailed guidance on remedying risks in existing development tools and workflows. ShiftLeft CORE, a unified code security platform, combines the company’s flagship NextGen Static Analysis (NG SAST), Intelligent Software Composition Analysis (SCA) and contextual security training through ShiftLeft Educate to provide developers and application security teams with the fastest, most accurate, and most relevant and easy-to-use automated application security and code analysis platform solutions.
Backed by Bain Capital Ventures, Mayfield, Thomvest Ventures and SineWave Ventures, ShiftLeft is based in Santa Clara, California. To learn how ShiftLeft keeps AppSec in sync with the fast paced DevOps, check out https://www.shiftleft.io/.
Source: ShiftLeft, Inc.