Smallstep Raises $26 Million for Automated Certificate Management Platform
Certificate management startup Smallstep Labs announced that it has raised $26 million in funding from several venture capital firms.
The San Francisco-based company says it has closed two investment rounds, namely a $7 million seed round led by Boldstart Ventures and a $19 million Series A round led by StepStone Group. Accel Partners, Upside Partnership, and Bain Capital Ventures also participated.
Founded in 2016, Smallstep provides automated certificate lifecycle management solutions for DevOps. Its products include a certificate manager and an SSH access tool.
The company offers an open-source toolkit that provides DevOps teams with best practices for securing enterprise environments.
Smallstep says it will use the funds to invest in the open source community, will continue to build products for practical zero trust, and will accelerate research and development.
“The rapid rise of microservices and containers is eroding traditional network perimeter-based security. Certificates provide a source of truth for machine and production identity, but are tough to use at scale in modern architectures,” said Enrique Salem, partner at Bain Capital Ventures. “Smallstep makes the power of certificates easy to access, helping developers secure the services and containers that create their application fabric.”