Israeli cybersecurity startup Salt Security said June 16 it raised $20 million in Series A funding, increasing the total investment in the company to $30 million. Venture capital firm Tenaya Capital led the round. The company plans to use the funds for product development and expansion of sales and marketing.
Salt has developed an API (application programming interface) threat protection solution that detects vulnerabilities and provides insights to eliminate risk.
APIs at the core of web, mobile and SaaS applications are surging, with recent reports showing 83% of internet web traffic is API traffic. With this digital transformation powered by APIs, a completely new attack surface has emerged. Salt Security is the first to market with a new breed of patented API Security solutions, able to uncover the vulnerabilities unique to each API and identify and respond to attackers before an attack is successful, according to the company.
Co-founder and CEO Roey Eliyahu said, "Salt Security prevents attacks that are impossible to detect with traditional security point-products. We are the only vendor in the space that can protect against all threats listed on the Open Web Application Security Project (OWASP) API Security Top 10 in addition to other increasing API-related security risks. Our expanding customer base is firmly focused on driving digital transformation, and our solution enables them to innovate and confidently secure the APIs driving critical technological advancements for their business."
Tom Banahan, a partner at Tenaya Capital who has joined Salt Security’s board of directors, said, "The company’s leadership team has a deep background in the cybersecurity industry, including members of the elite IDF cyber unit as well as serial entrepreneurs who have experience building enterprise grade products and growing companies with over $100 million in revenue. We believe Salt Security is uniquely positioned to lead and define the emerging category of API security and strategy."