Safeguarding Software and Driving Business Value in the Digital Age
Eureka DevSecOps is revolutionizing how companies protect their software applications from cyber threats while boosting operational efficiency. In today’s digital-first world, secure software is not just a technical necessity but a business imperative.
Eureka’s platform combines multiple security tools into one streamlined system, automating complex processes and reducing security-related delays. This allows companies to bring secure products to market faster, potentially saving significant development costs and helping prevent costly breaches.
With a roadmap that includes integrating AI/ML technologies, Eureka is poised to offer even more advanced threat detection and risk assessment in the future. By making robust security practices more accessible, Eureka helps organizations of all sizes defend against cyber attacks more effectively, protecting revenue and reputation while creating a competitive advantage in a world where digital trust is increasingly valuable.
Breaking New Ground in Application Security
Vancouver-based Eureka has made significant strides since its recent launch, achieving USD$734k in annual recurring revenue (ARR) – USD$266k from its core product and USD$468k in support services. The startup has onboarded eight clients, including two major banks, and is in discussions with a leading healthtech organization for potential collaboration. Their USD$200k raise through SAFEs underscores investor confidence in their vision.
Eureka is entering this year’s New Ventures BC Competition to showcase their DevSecOps platform’s potential to transform application security. As software development accelerates globally, Eureka’s solution addresses critical security challenges essential for modern DevSecOps practices. By participating, they aim to demonstrate BC’s leadership in cybersecurity innovation and highlight the province’s capabilities on the global stage.
Blueprint for Success
Eureka’s growth strategy focuses on a multi-channel approach to expand their DevSecOps platform’s market presence. The Vancouver-based startup is prioritizing high-value reseller partnerships as their primary growth driver, cultivating strategic relationships with key industry players. They’re also launching a free tier in 2025 to drive product-led growth, complemented by a targeted affiliate program.
While maintaining some direct sales for enterprise clients, Eureka is investing in R&D to develop AI-driven threat modeling capabilities, set to launch in late 2025. Looking ahead, they’re exploring the addition of Cloud Security Posture Management (CSPM) features to further enhance their offering in the coming years.
Eureka’s trajectory has been accelerated by participation in prestigious programs including Rogers Cybersecure Catalyst, Tampa Bay Wave CyberX, and SFU Venture Labs. The company values the guidance received from these accelerators, advisors, and mentors, addressing challenges head-on while remaining adaptable. This disciplined approach, combined with clear goal-setting and regular progress measurements, has driven their early achievements and will continue to guide their expansion in the dynamic application security landscape.
About The Founders
Farshad Abasi, Co-Founder and CEO
Fun Fact: Farshad is an avid music collector with over 8,000 records.
Mathieu Chretien, Co-Founder and COO
Fun Fact: Mathieu is an avid kayaker and skier.
Sasa Djolic, Co-Founder and CTO
Fun Fact: Sasa defined the concept of Event-Driven Design (EDD).
Company Cheatsheet:
City: Vancouver
Founded: March 13, 2024
Sector: Cybersecurity
