Codean secured a €400,000 European grant for the further development of its security product. The Dutch security startup was founded in 2020. The software helps security professionals find and address vulnerabilities in code.
Codean is increasingly popular. The Dutch startup develops a software product that helps security professionals analyse code vulnerabilities. Codean recently secured a €400,000 grant to further develop the product.
Codean was founded in 2020 by Kevin Valk and Arthur Tolsma. Valk has over fifteen years of ehitcal hacking experience. The company received €1 million in funding from TIIN Capital and five angel investors earlier this year.
The software’s design is similar to an integrated development environment (IDE), as shown below. Users input a codebase or file, after which vulnerable code lines can be highlighted. Highlighted lines can be sorted to quickly and clearly illustrate how an attacker could abuse the code.
One of Codean’s cornerstones is clarity. According to the company, most pen test reports and security analyses are too long-winded. The software allows users to explain the steps of a potential attacker in a short and understandable format. Developers can quickly process the feedback as a result.
Codean’s €400,000 grant is part of REACT-EU, a European plan for economic growth. The European Commission wants to compensate for the economic consequences of COVID-19. Brussels made more than €50 billion in subsidies available for promising companies that were delayed by the crisis.
Organization Kansen voor West is responsible for awarding the grants in the Netherlands. Codean submitted an application and got greenlit. The Utrecht-based company is enthusiastic. “Our previous investment of €1 million euros gave us the opportunity to hire top quality people, so we
so that we have grown from 4 to a team of 11″, told co-founder Tolsma.
“Our review environment already helps security experts to work faster, but it can and should be much faster because criminal hackers are also working smarter and smarter. This does require complex technology, which is why this grant is very important.”