Salt Security scores $30m in its Series B funding round led by Sequoia Capital

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Originally posted on Fintech Global.

API security company Salt Security has scored $30m in its Series B round, which was led by Sequoia Capital, marking its second funding round of the year.

Other commitments came from previous Salt Security backers Tenaya Capital, S Capital VC and Y Combinator.

Equity from the round will be used to support the company’s development in 2021, with a focus on boosting product development, sales and marketing, and customer acquisition.

The RegTech company protects APIs from attacks by leveraging machine learning and AI technology to automatically and continuously identify and protect applications.

Salt Security co-founder and CEO Roey Eliyahu said, “Raising both Series A and B, growing our customer base 200%, and building unmatched technical capabilities—all during this tumultuous year—gives us a formidable lead in the market we created and defined.

“Having someone of Carl’s calibre and experience guiding us will simply accelerate our success in the API security market.”

In line with the deal, Sequoia partner Carl Eschenbach will join the Salt Security board of directors.

Salt Security previously bagged $20m in a funding round earlier this year, with contributions coming from Tenaya Capital, S Capital co-founders Haim Sadger and Aya Peterburg, and Check Point Software co-founder Marius Nacht.

There have been a handful of companies to recently close their second funding round of 2020. This week has seen cyber insurance startup At-Bay, specialty travel insurance firm battleface and passwordless application service Beyond Identity all close their second 2020 funding rounds.

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