Jscrambler, a Portugal-based web security startup, has landed more than $2.3m in Series A funding.
The round, which was led by Sonae IM and co-invested by Portugal Ventures, will allow the company to expand its business and develop its portfolio. The Web startup works on highly innovative security products to protect Web and Mobile Applications. Its flagship product, Jscrambler, claims to be the world leader in JavaScript Application Security, making applications self-defensive and resilient to tampering and reverse-engineering on the client-side.
Rui Ribeiro, Jscrambler’s CEO and co-founder, explained that: “This investment will accelerate European and North-American market expansion and help more companies prevent and fight attacks that are growing in frequency and complexity but are being detected too late, with serious financial and reputational consequences for organisations”.
“In addition, it will also ensure the continued development of our product portfolio. Jscrambler recently introduced a new webpage integrity module that enables the real-time detection and removal of code injections, MITB attacks, DOM-tampering and data exfiltration on the client-side, and we plan to continue focusing on research and development to ensure the innovation and resiliency of our product line.”
Jscrambler has users across 150 countries, with the USA representing around 50% of its revenue, with more than 30,000 companies and individuals relying on its product to protect their online assets. These companies include Silicon Valley giants and Fortune 500 businesses in a number of sectors, including finance, broadcasting, e-commerce and gaming.
Sonae IM is focused on being a European leader in cybersecurity and has, in the last few months invested in companies in the growth phase, such as Artic Wolf (USA) and Secucloud (Germany).
It has also been investing in more Early Stage investments, between Pre-Seed and Series A, with the support and collaboration of Bright Pixel, Sonae’s company builder studio, which incubates the cybersecurity project Probe.ly. The investment in Continuum Security (Spain) and now more recently in Jscrambler are the two most recent examples of their efforts.
Alexandre Santos, Sonae IM’s head of venturing and Bright Pixel’s co-founder, says that “the participation in this round represents Sonae IM’s largest investment in an early stage project, showing our confidence in Jscrambler’s product and team. More than a trend, digital transformation is a reality that brings with it several challenges for companies and in which user confidence is essential for business success.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
