BearingPoint has made a strategic investment in Insignary. It marks BearingPoint’s first time investing in an Asian start-up.
As part of its Ventures activities, the investment builds on BearingPoint’s partnership with Insignary, through which they offer managed binary code scanning service in Europe.
The funding will enable Insignary to meet the growing demand in the EU, the US and Asia for businesses looking to improve their open-source software (OSS) risk management.
Insignary’s software-as-a-service (SaaS) and server-based security tool, Insignary Clarity, enables scanning of software binaries for security vulnerabilities, while also identifying license compliance issues.
Insignary Clarity uses fingerprint-based technology, which works on the binary-level without the need for source code or reverse engineering.
“We are very excited to welcome our strategic partner, BearingPoint, as a new investor,” said Tae-Jin (TJ) Kang, CEO of Insignary.
“Having the financial and strategic support of such a leader in enterprise managed security services validates Insignary’s technology and go-to-market strategy, and fuels our momentum as a company.”
“We see this as an extraordinary opportunity. Insignary has a unique capability of coping with one of the most pressing challenges companies face today: identifying and addressing known security vulnerabilities. With open-source software used in critical enterprise platforms, web and mobile apps, as well as IoT, blockchain, cloud, open container and other fast-growth technologies, Insignary is at the forefront with its security solutions. This fits perfectly with our investment strategy of being a step ahead of tomorrow for our clients”, said Patrick Palmgren, Chief Development Officer at BearingPoint.