The global DevSecOps market is going nowhere but up. According to Emergen Research, the global DevSecOps (Development, Security, and Operations) market size reached $2.55 billion in 2020 and is expected to hit over $23.42 billion by 2028. The rising need for repeatable, adaptive processes and custom code security are key factors driving industry demand. DevSecOps teams struggle to manage secrets and uniform configuration schema for cloud and application resources. Configuration complexity causes outages, security flaws, and decreased team velocity.
The massive growth is also the main reason technology companies, like the Boston-based CloudTruth, a DevSecOps platform company that helps enterprise development teams manage their cloud configurations, have raised $2.4 million in seed funding. The latest investment round was led by UBMB, with participation from existing investors Glasswing Ventures, Stage 1 Ventures, and York IE.
The new capital will be used to support the company’s go-to-market approach, and expand market reach. The fresh funding will also help the company deliver products that supercharge DevSecOps pipeline build teams. In addition to funding news. the company announced that industry veterans Christian Tate will join Cloud Truth as CEO.
An industry veteran wide variety of experiences throughout organizations of many shapes and sizes, Tate Led the growth areas for the leading carbon-neutral industrial battery company FREYR. He was also part of the business development and leadership team that helped Double-Take Software grow from single-digit to triple-digit revenue growth and the exit to Thoma Bravo. Tate also served as Vice President of Corporate Development at Hitachi Vantara and was responsible for the strategic and corporate development of the $4 billion subsidiary of the Hitachi company.
The CloudTruth team confirmed that it has launched new features for DevOps, Developers, and Platform Engineering teams, including:
1. Secrets Federated Manager / Broker
2. Terraform Provider
3. Kubernetes Operator
4. Secret Store Integrations: Hashi Vault, AWS Secrets Mgr, Azure Key Vault, and GCP SM
5. CI/CD Integrations: GitHub Actions, GitLab Pipelines, Argo CD, CircleCI, and Jenkins
6. Role Based Access Control (RBAC)
7. Advanced Temples (Inheritances and Overrides)
8. History, Change Tracking, Audit, and Reporting
Founded in 2019, and based in Boston, Massachusetts, CloudTruth supercharges DevSecOps workflows and accelerates enterprise build and deploy pipelines by giving teams a systematic way to inject and manage all configurations, including secrets, into code releases which improve developer, DevOps, and Platform Engineering productivity.