Salt Security raises $70 million in Series C funding to meet API security demand
Using machine learning and AI, the company's platform protects the programming interfaces that form the core of every modern application. The company plans to use the funds to expand its R&D and global operations
Cybertech
| 29/05/2021
The founders of Salt Security, CEO Roey Eliyahu (R) and COO Michel Nicosia. Photo: Seli Ben Arie
Application programming interface (API) security company Salt Security announced Wednesday it has secured $70 million in Series C funding, saying that it plans to use the funds to expand its global operations for R&D, sales and marketing, and customer success. To date, Salt Security has raised $131 million, $120 million of it in the last year.
The round was led by private equity investor Advent International through Advent Tech, with participation from Alkeon Capital and DFJ Growth. Existing investors Sequoia Capital, Tenaya Capital, S Capital VC, and Y Combinator also participated in the round, the Israeli company said.
"Several recent high-profile API security incidents have forced organizations to recognize that their existing protections cannot prevent API attacks or handle the scale and complexity of today’s API-driven applications," said Roey Eliyahu, CEO and co-founder of Salt Security. “This new round of funding will help us increase our rate of innovation and businesses in more regions securely adopt APIs to foster their own innovation."
According to Salt Security, as APIs have proliferated as part of digital transformation, cloud migration, and application acceleration initiatives, API security incidents have risen in tandem, as attackers realize APIs are fruitful and lucrative to target.
Salt Security protects the APIs that form the core of every modern application. Its API Protection Platform is the industry’s first patented solution to prevent the next generation of API attacks, using machine learning and AI to automatically and continuously identify and protect APIs. Deployed in minutes, the platform learns the granular behavior of a company’s APIs and requires no configuration or customization to pinpoint and block API attackers, according to the company.
“The rapid proliferation of APIs has dramatically altered the attack surface of applications, creating a major challenge for large enterprises since existing security mechanisms cannot protect against this new threat,” said Bryan Taylor, managing partner and head of Advent’s technology team in Palo Alto. “We continue to see API security incidents make the news headlines and cause significant reputational risk for companies."
“APIs are at the heart of all our application innovation today,” said Mike Towers, CISO, Takeda Pharmaceuticals. “As attackers have turned their focus on APIs, we must ensure the data and services our APIs connect remain protected."
Using machine learning and AI, the company's platform protects the programming interfaces that form the core of every modern application. The company plans to use the funds to expand its R&D and global operations
The founders of Salt Security, CEO Roey Eliyahu (R) and COO Michel Nicosia. Photo: Seli Ben Arie
Application programming interface (API) security company Salt Security announced Wednesday it has secured $70 million in Series C funding, saying that it plans to use the funds to expand its global operations for R&D, sales and marketing, and customer success. To date, Salt Security has raised $131 million, $120 million of it in the last year.
The round was led by private equity investor Advent International through Advent Tech, with participation from Alkeon Capital and DFJ Growth. Existing investors Sequoia Capital, Tenaya Capital, S Capital VC, and Y Combinator also participated in the round, the Israeli company said.
"Several recent high-profile API security incidents have forced organizations to recognize that their existing protections cannot prevent API attacks or handle the scale and complexity of today’s API-driven applications," said Roey Eliyahu, CEO and co-founder of Salt Security. “This new round of funding will help us increase our rate of innovation and businesses in more regions securely adopt APIs to foster their own innovation."
According to Salt Security, as APIs have proliferated as part of digital transformation, cloud migration, and application acceleration initiatives, API security incidents have risen in tandem, as attackers realize APIs are fruitful and lucrative to target.
Salt Security protects the APIs that form the core of every modern application. Its API Protection Platform is the industry’s first patented solution to prevent the next generation of API attacks, using machine learning and AI to automatically and continuously identify and protect APIs. Deployed in minutes, the platform learns the granular behavior of a company’s APIs and requires no configuration or customization to pinpoint and block API attackers, according to the company.
“The rapid proliferation of APIs has dramatically altered the attack surface of applications, creating a major challenge for large enterprises since existing security mechanisms cannot protect against this new threat,” said Bryan Taylor, managing partner and head of Advent’s technology team in Palo Alto. “We continue to see API security incidents make the news headlines and cause significant reputational risk for companies."
“APIs are at the heart of all our application innovation today,” said Mike Towers, CISO, Takeda Pharmaceuticals. “As attackers have turned their focus on APIs, we must ensure the data and services our APIs connect remain protected."
