San Francisco-based Wallarm, a provider of AI-powered application security, has landed $8m in Series A funding.
The round was led by Toba Capital with participation from Y Combinator, Partech and Gagarin Capital. It brings the company’s total funding to date to $10.8m. Post funding, Rajan Aggarwal, partner at Toba Capital will become a member of Wallarm’s board, and Reza Malekzadeh of Partech will join the board as an observer.
Wallarm aims to bridges the gap between DevOps and security teams by providing native application protection across public and private clouds. It claims its signature-free approach to attack detection, Wallarm NGWAF and Active Threat Verification modules enable adaptive application security with better accuracy and lower cost of ownership than legacy alternatives.
The funds will be used to introduce the Wallarm Framework for Automatic Security Testing (FAST) to security researchers, developers, and quality assurance practitioners. This platform provides a scripted tool used to automatically generate hundreds of security tests based on the existing functional testing and to increase test coverage significantly while adhering to CI/CD processes. The same mechanism finds underlying vulnerabilities in the code and software frameworks and helps to find and reproduce related issues.
“Given the growing sophistication of hackers and the influx of cyber-attacks targeted at organisations managing sensitive data, investing in Wallarm was a no-brainer. We believe their AI-powered application security platform is well-equipped to defend internet-focused companies from increasingly cunning and skilled cybercriminals,” said Vinny Smith, founder, Toba Capital.
“We are always excited to invest in companies with technology that will bring significant value to the pressing challenges businesses face.”
To help its growth, Wallarm recent added two security industry veterans to its executive team. Johan Nordstrom, former Imperva and Arbor Networks executive, has joined Wallarm as Chief Business Development Officer. Renata Budko, the co-founder of HyTrust, has also joined as Chief Marketing Officer.
Wallarm’s advisory board has also been strengthened with the addition of Richard Seiersen, Chief Information Security Officer of LendingClub and Randy Bias, VP of Technology and Strategy at Juniper Networks.
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