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COMPANY PROFILE

GuardSquare

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Multi-layered security for Android and iOS applications

Leuven, BelgiumFounded 2012Security
Valuation $100–500M Latest valuation · 2019
Revenue $10–50M Latest reported FY
Headcount 100–500 Current team size
Total funding $10–50M Disclosed equity funding
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About GuardSquare

GuardSquare is a mobile application security company headquartered in Leuven, Belgium, with offices in the USA and Germany. It was founded in 2014 by Eric Lafortune and Heidi Rakels. The company's origins trace back to 2002 when Lafortune created ProGuard, an open-source Java bytecode optimizer, as a hobby project. ProGuard gained significant traction, and by 2010, it was integrated into the Android SDK. Recognizing the growing demand for more robust mobile security, Lafortune developed DexGuard in 2012, a commercial product for Android offering advanced protection. This led to the official establishment of GuardSquare two years later to support the software's development.

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GuardSquare provides a suite of security solutions for native and cross-platform mobile applications, serving industries such as finance, e-commerce, gaming, and healthcare. The company's business model is centered on selling software licenses and providing expert support. In January 2019, GuardSquare secured its first institutional funding round of $29 million, led by Battery Ventures. Subsequent investments include an undisclosed amount from Verdane in July 2025. The company has also grown through acquisitions, including App-Ray in 2020 and Verimatrix's Extended Threat Defense (XTD) division in 2026.

The product portfolio offers multi-layered security that integrates throughout the software development lifecycle. Key products include: * **DexGuard:** Protects Android applications against reverse engineering and tampering through code hardening, obfuscation, encryption, and Runtime Application Self-Protection (RASP). It is designed to be backward compatible with ProGuard configurations. * **iXGuard:** Provides similar comprehensive protection for iOS applications, defending against both static and dynamic analysis with features like code virtualization, name obfuscation, and runtime integrity checks. * **AppSweep:** A mobile application security testing (MAST) tool that helps developers find and fix security vulnerabilities early in the development process. * **ThreatCast:** A real-time threat monitoring service that gives visibility into active attacks on applications in production. * **ProGuard:** The foundational open-source tool for shrinking, optimizing, and providing basic obfuscation for Java and Kotlin bytecode.

Source: Dealroom company data

At a glance

Founded
2012
Headquarters
Leuven, Belgium
Sector
Security
Power Law
Colt$25–100M revenue

Latest news

Press, funding announcements and product moves mentioning GuardSquare.

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Investors

2 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series A1 investor entered at this stage

Series B and later1 investor entered at this stage

  • Verdane Capital
Team profiled 19 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 7 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
12 countries with
team presence
🇧🇪 Belgium63.5%
🇺🇸 United States12.4%
🇩🇪 Germany8.3%
🇬🇧 United Kingdom5.5%
🇭🇺 Hungary2.8%
Top 5 of 12 shown
Web traffic by country
160K monthly visits
across markets
🇧🇷 Brazil17.7%
🇮🇩 Indonesia15.1%
🇺🇸 United States9.6%
🇮🇳 India5.7%
🇦🇪 United Arab Emirates4.4%
Top 5 markets shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about GuardSquare on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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