AMSTERDAM & SUNNYVALE, Calif.--(BUSINESS WIRE)--Management and technology consultancy BearingPoint has made a strategic investment in Insignary, a global leader in binary-level open source software security and compliance. It marks BearingPoint’s first time investing in an Asian start-up. As part of its Ventures activities, the investment builds on BearingPoint’s successful partnership with Insignary, through which they became the first to 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 proactive scanning of software binaries for known, preventable security vulnerabilities, while also identifying potential license compliance issues. Insignary Clarity uses unique 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, Inc. “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.
About Insignary, Inc.
Founded in 2016, venture-backed Insignary is a global leader in binary-level software composition analysis. Through its Insignary Clarity and TruthIsIntheBinary.com software and cloud-based solutions, the company enables unmatched open source software binary scanning to uncover and address security and license compliance issues. For more information please visit www.insignary.com.
Insignary, Insignary Clarity and TruthIsIntheBinary are trademarks or servicemarks of Insignary, Inc. All other brands, trademarks or servicemarks are the property of their respective owners.
AVID PR for Insignary, Inc.
BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three units: Consulting, Solutions and Ventures. Consulting covers the advisory business; Solutions provides the tools for successful digital transformation, regulatory technology and advanced analytics; Ventures drives the financing and development of start-ups. BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 75 countries, engaging with them to achieve measurable and sustainable success.
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Annual Report: www.bearingpoint.com/en/about-us/annual-report/connecting-the-dots/