US API security firm Cequence Security has raised $60m from a Series C funding raise led by Menlo Ventures.
The round also saw participation from ICON Ventures, HarbourVest Partners, Telstra Ventures, T-Mobile Ventures, Shasta Ventures and Dell Technologies Capital. Following the Series C, Cequence has raised a total of $100m since inception.
Founded in 2015, Cequence is a cybersecurity software company that is focused on transforming application security by consolidating multiple security functions into an open, AI-powered software platform that protects customers’ APIs and web-based applications from automated bot attacks and vulnerability exploits.
The company claims its API security solution is the most comprehensive platform on the market and protects 2 billion API transactions per day. Cequence services over 85 brands globally with its solution.
According to Cequence, the newly raised capital will support new enhancements to its API security solutions and expand product offerings. The money will also help the firm break into new markets in the US, Europe, Asia and Australia, and make key hires in these markets.
Cequence CEO Larry Link said, “From social networks to online shopping and financial services, so many aspects of our lives and digital experiences are tied to APIs. That’s why it’s critical to be able to manage your entire API inventory to address security gaps and protect against rising API threats that may lead to fraud and data loss. We’re thrilled that our new and existing investors recognize this growing market need and are eager to support our mission to protect organizations—and users—in this digital-first world.”
Menlo Ventures partner Venky Ganesan – who will join the Cequence board – added, “As an active cybersecurity investor, I’ve looked at countless API security vendors, but I’m placing my bets on Cequence—as is the market. Among their impressive roster of customers, you’ll find several household names and Fortune 500 organizations, which speaks to their ability to meet the API protection demands of the largest and most demanding enterprise businesses. Part of the appeal is superior product architecture. Cequence can stand alone: It is the only solution that provides visibility and inline response mitigation to attacks on APIs. It’s the only solution out there that doesn’t need to signal other products for mitigation.”
Copyright © 2021 RegTech Analyst
Copyright © 2018 RegTech Analyst
