2023 was Legit!
2023 was a legit year for Legit Security and I could not be any prouder of the team’s progress!
When my co-founders, Liav Caspi and Lior Barak, and I started the company three years ago, we were confident we were onto something. That said, we could not have predicted how quickly we’d see traction in the market. Since then, we have earned the trust and confidence of CISOs at leading enterprises seeking to improve their application and product security programs.
Today, we announced some key milestones and results Legit earned in 2023. While the metrics – 250% revenue growth, doubling our customer base, and seeing our average customer deployment footprint nearly double (with a net retention rate of 190%) – are certainly worth celebrating, it’s the progress we’ve made with our team, customers and the market that gets me fired up for 2024.
- We’ve welcomed dozens of new Legiteammates over the past 12 months, across every function. To accommodate this growth we’ve expanded our Tel Aviv office and have opened a new U.S. HQ in Boston. We’ve also filled out our executive leadership team across both Israel and the U.S. to set us up to drive the business fast.
- We’ve closed large enterprise deals while continuing to make our existing customers really, really happy – our retention rates are a testament to this. We’ve also seen many customers choose to expand their use of the Legit platform by taking advantage of the numerous critical use cases we can help them address.
- We closed a series B round with top-tier investors in a very tight market. CRV led this round with participation from all existing investors - Cyberstarts, Bessemer Venture Partners and TCV. Our investors see the market potential – and the power of the Legit team’s creativity and innovation – and chose to support us. That means a lot.
I’d be remiss not to thank our customers – those that were with us from day one to those choosing to partner with us today. We know full well you have many priorities and technology partners, and we are both proud and grateful you chose to work with us.
Finally, I’ll close by thanking every Legiteammate – from those who have been here from day 1 to those who have joined us in 2024. Your work each and every day makes our customers more secure and the company stronger. I can’t wait to see what you do this year!
For more information, please visit https://www.legitsecurity.com. To learn about career opportunities with Legit, visit https://www.legitsecurity.com/careers.
About Legit Security
Legit Security provides an application security posture management platform that secures application delivery from code to cloud and protects an organization's software supply chain from attacks. The platform’s unified application security control plane and automated SDLC discovery and analysis capabilities provide visibility and security control over rapidly changing environments and prioritize security issues based on context and business criticality to improve security team efficiency and effectiveness.
Legit Security is a leader ASPM with a platform that can help organizations improve their vulnerability management, asset discovery, and secure their developer environments across the entire SDLC. To learn more about Legit Security, request a demo.