Security services SaaS platform Pangea nabs $26m

Security services SaaS platform Pangea nabs $26m

Pangea Cyber, a security services provider for cloud and mobile app developers, has raised $26m for its Series B, as it looks to accelerate the delivery of its API-based services.

GV served as the lead investor, with commitments also coming from Decibel and Okta Ventures.

The one-year-old company has now raised a total of $52m in equity. The latest burst of funds will enable the CyberTech company to bolster its product development efforts, as well as drive greater developer and builder adoption.

Plans are to launch several dozen API-based security services over the next 12 months.

Pangea offers a security platform-as-a-Service framework and is available to builders who need to add security functions to their applications. Its services work similar to those offered by Amazon Web Services, but for cybersecurity.

Developers can use the technology to log security events, manage export restrictions, handle personally identifiable information, identify malicious files being shared and block users from risky internet domains.

Pangea founder and CEO Oliver Friedrichs said, “Development teams simply lack the expertise to add security capabilities into their applications. With up to one million software companies anticipated by 2027 (according to Forrester), it’s essential that the applications they build have access to a trustworthy framework of security functions.”

As part of the investment, GV general partner Karim Faris will join the Pangea board of directors.

Ballistic Ventures co-founder Barmak Meftah added, “We’ve seen PaaS offerings from AWS, GCP, and Azure for compute, storage, and database, and CPaaS from Twilio for communications, but we’ve not yet seen a similar model for cybersecurity — with simple-to-use security functions that app builders can easily embed to get to market fast. The time is right for the arrival of Security Platform as a Service, or SPaaS.”

In other CyberTech news, Israeli workplace intelligence platform Shield has picked up $20m for its Series B round.

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