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RunSafe Security announced a $12 million Series B financing round on September 17, 2024. Critical Ventures and SineWave Venture Partners led the round. The company said it would use the funding to accelerate product development and expand into Europe, the Middle East and Africa (EMEA) and Asia-Pacific (APAC).
Who invested in RunSafe’s Series B?
Critical Ventures and SineWave Venture Partners led the $12 million round, according to RunSafe Security’s announcement and a BMW Group PressClub USA announcement, both dated September 17, 2024. Other named participants were BMW i Ventures, Working Lab Capital, Lockheed Martin Ventures, HyperLink Ventures, Iron Gate Ventures, Alsop Louie Partners and NextGen Venture Partners.
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The announced amount is the financing total. The releases do not state a company valuation, individual investor contributions or a detailed allocation of the proceeds.
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RunSafe describes its platform as software for identifying risk, protecting code and monitoring embedded software used in critical infrastructure. The company identified McLean, Virginia, as its headquarters and named aerospace and defense, energy and industrial automation, transportation and autonomy, medical devices, and high tech as customer sectors.
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Risk identification
SecurityWeek’s contemporaneous coverage of the financing described capabilities to identify software exposure to memory-related exploits.
Code protection
That coverage also described hardening code by randomizing where functions are placed in memory, along with maintained pre-hardened open-source packages and container images. These are reported product capabilities, not independent test results.
Monitoring
SecurityWeek reported that RunSafe analyzes crash events to help distinguish bugs from attacks. RunSafe CEO Joe Saunders said the funding would support solutions intended to prevent attacks exploiting known and unknown vulnerabilities, including when a patch is unavailable and without rewriting code.
What was the funding intended to support?
RunSafe said the financing would accelerate new product development and expansion into EMEA and APAC. It did not disclose how much would go to either goal or provide a more detailed use-of-proceeds breakdown.
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What the announcement does—and does not—establish
This was a funding announcement dated September 17, 2024, not a statement of RunSafe’s current funding position. The cited announcements establish the amount, investors and intended uses, but do not establish the company’s valuation, independently audited financing data or any later funding status.
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