The Ukrainian venture syndicate TOLOKA announced a $1 million investment in Bright Security — one of the most promising companies in the application security (AppSec) sector, which is revolutionizing the approach to protecting software and APIs. The investment was made as part of an extended Series A funding round.
Bright Security has developed an innovative AI platform called STAR that automatically detects, fixes, and protects against vulnerabilities in enterprise applications. The company operates in the dynamic application security testing (DAST) segment, which is expected to grow from $1.8 billion in 2023 to over $6 billion by 2028.
- Over 98% time savings — the testing and remediation cycle is reduced from several months to just one day.
- 94% gross margin — an exceptional figure for a SaaS business model.
- 70+ enterprise clients.
- Rapid scaling — 80% of revenue comes from North America; the company is actively expanding sales through distributors such as GuidePoint and Optiv.
TOLOKA invested in Bright Security due to the startup’s strong growth trajectory, profitable business model, and innovative product. Investors also highlight the experienced team and see potential interest from major market players, which could lead to a successful exit in the future.
The investment terms were favorable for TOLOKA: they used a SAFE agreement with the option to acquire shares at a discounted price in the next funding round. This means that in the event of a successful high-valuation exit of Bright Security, investors stand to make significant profits.
