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The Power of Having Sequoia in your Court

Michael NicosiaMichael Nicosia
Dec 7, 2020

We set out to empower customer success and innovation by securing every API. In doing so, we’ve created amazing tech, earned the trust of the most demanding customers, and won incredible industry accolades including Gartner Cool Vendor and SINET 16. And now, right on the heels of our Series A funding, we’ve raised a $30 million B round, led by Sequoia Capital, with Carl Eschenbach joining our board.

What does this round give us here at Salt? So much more than $30 million …

  • the validation: Sequoia is a “swing for the fences” VC firm. Its partners aren’t interested in incremental improvements – they back the biggest disruptors in the biggest markets. Sequoia’s investment in Salt is another indicator that API security will be a massive market and that Salt has the team and technology to continue to build and dominate this market.
  • the experience: Sequoia has backed the all-time tech giants for nearly 50 years, generating value equivalent to 22% of NASDAQ. But everyone will tell you – it’s not just the fund, it’s the partner. And Carl Eschenbach will be an incredible advisor to us here at Salt. He’s scaled organizations – starting at VMware when the company had 200 people and serving as its President and COO with more than 20,000 people. The companies whose boards he sits on now have generated more than $325 billion in value. We get the benefit of all his learning and his pattern matching – and especially his GTM insights. You can read about his motivations in investing in his LinkedIn post.
  • the ability to focus: Fundraising takes time. A lot of time. But it’s faster and easier when they come to you with a preemptive round. And now our leadership won’t have the distraction of raising another round for years. What a gift – the opportunity to focus, on execution and scaling the company
  • our lead in the market: Here at Salt Security, we were first to market, we have the best technology, we have the highest profile customer base, and now we have 3x to 30x the funding of any other company in this space. Raising this kind of money means we get to increase the growth trajectory we’re already on – we can immediately accelerate our hiring and market engagement plans. We’re already way out in front, and this funding just extends our leadership position in the API security market.

We are all so excited to move into this next phase of our journey. We’re fortunate to have Sequoia and Carl, along with Tom at Tenaya, Haim at S Capital, and Ali at Y Combinator, at our sides as we define and lead the API security universe.

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