Application security software developer Cequence Security has scored $17m in its Series B round, bringing its total funding efforts to $30m.
The equity financing was led by Dell Technologies Capital, with participation also coming from Shasta Ventures, the lead investor of the Cequence Series A.
Through the burst of funds, Cequence will look to fuel its market expansion and making product developments. The company also hopes to expand its sales and marketing efforts across the US and select international markets.
California-headquartered Cequence utilises AI-powered analytics to protect businesses from a range of threats including business logic abuse, account fraud, and content scrapping. Its services are implemented to secure web, mobile and API applications.
The automated analytics platform identifies all of the application assets being used by an organisation and gives them an oversight to their operations and instantly detect any advanced bot attack targeting them.
Its CQ botDefense gives security teams in-depth insights into each attack, including the source, target, type and breadth of the assault. Alongside this, the service can help mitigate malicious activity through blocking, rate-limiting and deception techniques.
Dell Technologies Capital managing director Deepak Jeevankumar said, “The application security market is certainly ripe for transformation due to automation of business logic cyberattacks and expanding attack surface aided by exponentially-increasing usage of IaaS clouds, APIs and mobile apps. Cequence Security is well positioned to be a major disruptor.”
Last year, Dell Technologies took part in the $10.75m funding round of cloud security platform CloudKnox. The RegTech startup has established a single platform to manage the entire identity privilege lifecycle across any cloud.
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