Today, we announce our $1.6M pre-seed funding from Sequoia Capital, fueling our ambitions to redefine open source vulnerability management.
Number of engineers
Today marks a significant milestone for us. We are beyond excited to share that Coana, our startup born from the ambition to redefine software supply chain security, has raised $1.6 million in a preseed round led by Sequoia Capital.
The story of Coana began years ago at Aarhus University in Denmark, where three of our co-founders, Professor Anders Møller and PhDs Benjamin Barslev Nielsen and Martin Torp, embarked on a path of groundbreaking research. Their focus: using state-of-the-art program analysis to tackle the ever-growing challenge of keeping open source-based software applications secure.
Imagine a world where 95% of security alerts you receive are irrelevant. That's the current reality with traditional security vulnerability scanners - so-called SCA tools. Coana is here to change that. Our innovative approach filters out the noise, highlighting only the vulnerabilities that matter - substantially reducing the burden of vulnerability management for engineers.
The confidence and support of Sequoia Capital, along with Essence VC and industry experts like Taylor Lehmann (Director, Google Cloud, Office of the CISO), Drew Dennison (CTO & Co-founder at Semgrep), Thomas Riisgaard Hansen (Director at DIREC), Anders Thorhauge Sandholm (Group Product Manager at Google Research), Paul St. John (previous VP of Sales at GitHub), Kamal Shah (previous StackRox CEO and Red Hat VP), and Esben Friis-Jensen (Co-founder of Cobalt & Userflow), is not just funding; it’s a validation of our vision to change vulnerability management.
Our tool, launched in beta in October 2023, is already paving the way for tech companies like GAN Integrity (see case study) and Maze (see case study) in their application security efforts. And with this group of investors backing us, we're well-equipped to further build out our reachability analysis to change how vulnerabilities in open source dependencies are managed.
The Coana founders - Anders, Anders, Benjamin, and Martin