Back in December, Sequoia Capital led our $30 million Series B funding, and Carl Eschenbach joined our board. We were only six months past landing our Series A funding and hadn’t been intending to raise. Now here we are, a mere six months on again, announcing our $70 million Series C funding, with yet another set of investors ready to extend our leadership and market velocity once more.
We’re so excited to have Advent International, Alkeon Capital, and DFJ Growth leading this round, as we set our sights on international expansion, R&D acceleration, and rapid growth that our sales and marketing teams must meet to keep up with increased demand.
The API security market is exploding, helped in no small part by the nearly weekly headlines about leaky APIs, data breaches, account takeover, and other API exploits. We’re seeing inbound prospect inquiries ratchet up dramatically, evidence that organizations understand that API attacks are different from application attacks and that additional protections, beyond what WAFs and API gateways can provide, are critical to protecting the vital data and services that APIs enable.
The greatest gift this kind of preemptive funding buys you is focus – when you don’t have to spend time and energy fundraising, you can pour all that effort into delighting your customers. And since we've now raised $131 million -- $120 million of it in just the past year -- we get to stay ruthlessly focused on enhancing our platform, increasing our supported integrations, and continually improving the ML and AI algorithms that protect our customers’ innovation.
This latest round catapults us so far ahead of the pack – in funding of course, but it’s also a hallmark of our leadership in so many other dimensions, including:
We’re humbled by the confidence this latest set of investors has shown us, in this very tangible vote, and we look forward to delivering on the incredible potential they already see us exhibiting. Buckle up, everyone – we’re about to enter hyperdrive!
WAAPs are more advanced than WAFs, and play an important role in an organization’s larger API security strategy, but still don’t and can’t holistically solve the problem of API security.
By having Salt Security available on all three cloud marketplaces, we deliver on our promise to provide customers with the industry’s most comprehensive API security solution.