Prevoty Raises $13 Million in Series B

Real-time app security platform Prevoty announced an investment of $13 million today. The Series B round was led by Trident Capital Cybersecurity, and featured participation from existing investors such as USVP.

“This new round of funding from Trident Capital Cybersecurity and USVP will not only help us meet the exponential growth in demand for our autonomous application security solutions, but will also support continued investment in innovation,” Prevoty CEO and co-founder Julien Bellanger said in a statement.

Calling application security “often the weakest link in a security program,” Trident Capital Cybersecurity Managing Director Sean Cunningham praised the way Prevoty gives developers the ability to deploy apps with more security, less risk, and minimal implementation impact. “Customers and prospects are validating that Prevoty’s unique approach to application security succeeds at embedding security into DevOps,” Cunningham said.

By providing visibility into the security weaknesses, he added, Prevoty “allow(s) teams to remediate underlying issues in real-time production, and accelerating application time to market.” As part of the investment, Cunningham will join Prevoty’s Board of Directors.

Prevoty CTO and co-founder Kunal Anand during his presentation “Using Runtime Visibility to Align Application Security with DevOps” at FinDEVr New York 2017.

Prevoty’s technology monitors app activity at runtime and detects attacks in production applications. The platform provides instant mitigation, including against the OWASP Top 10 Most Critical Web App Security Risks, as well as content, database, and command injections. Prevoty then issues alerts to log files and any configured SIEMs if the payload is believed to be malicious. The technology also enables seamless integration with DevOps, ensuring that app integration and app deployment is accompanied by real-time visibility and threat mitigation.

Headquartered in Los Angeles, California and founded in 2013, Prevoty is an alumni of our developer’s conference, FinDEVr. This spring, the company’s CTO and co-founder Kunal Anand presented Using Runtime Visibility to Align Application Security with DevOps at FinDEVr New York, where he explained how solutions like Runtime Application Self-Protection (RASP) are improving app security. Anand’s presentation won the company a Crowd Favorite award from the FinDEVr New York audience.

In November Prevoty took top honors at the SINET 16 Innovation Competition for its app security technology. And in October, the company was named Best in Data Security by Credit Donkey. A 2018 TAG Cyber Distinguished Vendor and Gold Winner of the 2017 Golden Bridge Awards for Best Application Security, Prevoty has raised a total of more than $25 million in funding. The company’s customers include Aaron’s, SpencerStuart, and Michigan State University.

Finovate Alumni News

On Finovate.com

  • Klarna to Power Invoice and Credit-Based Payments for Worldpay Clients.
  • Prevoty Raises $13 Million in Series B.

Around the web

  • Fiserv partners with Boiling Springs Savings Bank and North Shore Trust and Savings to Provide End-to-End Debit and Card Solutions.
  • Global Debt Registry joins the Wall Street Blockchain Alliance.
  • Latin America’s largest bank, Itau Unibanco chooses WealthSuite from Temenos for its international private banking operations.
  • Token pledges to connect banks, merchants, and third party providers to any EU bank for PSD2 payments and data.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

The Favorites of FinDEVr 2017 New York

FinDEVr2017_AwardWinners

FinDEVr  2017 New York is in the books. Our second developers conference in New York was a great opportunity to take a look at some of the technologies that continue to drive fintech innovation forward. As always, we asked our attendees to tell us which companies and technologies were best positioned to make the greatest impact on the financial services industry in terms of providing greater security, increased efficiency, and a better user experience for consumers. Here is what our attendees had to say:

Favorite FinDEVr Debut

  • HackerOne for its bug bounty and vulnerability platform that leverages the talent of trusted hackers to improve the online security of organizations and institutions ranging from Twitter and Uber to Qualcomm  and the U.S. Department of Defense.

Favorite FinDEVr Alum

  • Quovo and SoFi for their partnership that shows how an easy-to-use authentication API provides security to accounts at more than 200+ FIs while improving and streamlining the user experience.

Day One Attendee Favorite

  • MapD for its database and visualization layer that transforms Big Data into immersive, instantaneous, and actionable analytics.

Day Two Attendee Favorite

  • Prevoty for its insight into the way embedded, runtime security enables cybersecurity professionals to provide an additional layer of defense against vulnerabilities and fraudulent behavior.

Favorite Established Company

  • BlueMetal for its virtual agents, natural language processing, and conversational UX that transforms the nature of customer engagement in financial services.

Favorite Startup Company

  • Modelshop for its analytic decision platform that enhances the loan origination, portfolio optimization, and fraud prevention processes for both FIs and consumers.

Media Favorite

  • Vantiv for its cloud-based payment app that removes the complexity from financial transactions for both developers and merchants.

Our thanks to our presenting companies, sponsors, partners, and all of you who attended our second developers conference this year in New York. The excitement and enthusiasm for our events only makes us that much more excited for our upcoming FinDEVr debut in London, England in June. If you’re in the U.K. and looking for more insight into the technological side of the fintech ecosystem, then FinDEVr London is the place to be June 12th and 13th. Visit our FinDEVr London 2017 page for more information.

FinDEVr APIntelligence

FDNY17-Logo-RevFinDEVr New York will be here in just three short weeks! Check out company features and take a look at the previews from upcoming presentations. And of course, don’t forget to register today to save!

On FinDEVr.com

  • Barclaycard Brings Payment Functionality to Fashion Accessories.
  • NYMBUS Scores with $16 Million Investment Led by Home Credit Group.

Alumni updates

  • Arxan Technologies completes the Federal Information Processing Standard (FIPS) 140-2 validation process from the National Institute of Standards and Technology (NIST).
  • New APIs from Citi to help clients access network with existing treasury applications.
  • Report highlights Nymbus, as a key digital banking player.
  • The Co-operative Group to leverage ACI Worldwide for cloud-based mobile wallet.
  • Lleida.net wins 20-year European patent for its registered email technology.
  • Thomson Reuters enhances data analytics platform with ultra high-speed processing of real-time and historical data functionality.
  • Entersekt announces original equipment manufacturing agreement with transaction processing specialist, Global Kinetic.
  • BBVA to leverage mobile accounting opening technology from Oracle Communications.
  • FinDEVr veteran Hyperwallet adds former SecureNet Payments EVP, Mark Engels, as Chief Revenue Officer.
  • Best of Show winner AutoGravity forges new partnership with Westlake Financial Services to expand financing options for car shoppers.
  • The Paypers interviews Nicole Mantow, General Manager of EVO Payments, parent company of FinDEVr veteran, EVO Snap.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

Finovate Alumni News

On Finovate.com

  • Lights! Camera! Action! Demo Videos from FinovateEurope Now Available.
  • BlueVine Lands $75 Million Line of Credit.

Around the web

  • Yoyo marks 10 millionth transaction milestone.
  • Jack Henry & Associates‘ Symitar division unveils its account opening self-service hub, SymApp.
  • New APIs from Citi to help clients access network with existing treasury applications. See Citi at FinDEVr New York in March.
  • Credit Union of Southern California ($1.2 billion) chooses Fiserv’s Architect digital banking platform.
  • SuiteBox introduces multi-signing of document functionality to its digital workspace technology platform.
  • Ledger releases the Nano S firmware 1.3.
  • Stoneham Bank to leverage Insuritas to launch insurance agency platform to drive fee income.
  • Report highlights Urban FT, Misys, Kony, Backbase, Infosys, Cachet Financial Solutions, and Nymbus, as key digital banking players.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinDEVr APIntelligence

FinDEVrSV16-withdateOur FinDEVr New York developer showcase was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today and save.

On FinDEVr.com

  • Venmo Enables Payments in Merchant Apps
  • Prevoty Wins 2016 Stratus Award for Best Small Company Cloud Security Service
  • Mexico’s Grupo Bursátil Deploys Messaging Tech from Solace Systems

The latest from FinDEVr New York 2016 presenters

  • A look at fintech in Berlin and London highlights Mambu.
  • Espresso Capital features Outside IQ’s creativity in raising capital.

Alumni updates

  • Kontomatik introduces Financial Health Indicator for smal-l and medium-sized lenders.
  • Kabbage turns to Marketo for new marketing solutions.
  • ITProPortal interviews Ben Robinson, chief strategy and marketing officer for Temenos.
  • Mastercard to Buy VocaLink for Up to $1.14 Billion After Masterpass Expansion to Retail
  • Cloud Lending Solutions adds new online modules to its Learning program.
  • Google Cloud Platform opens its first West Coast region.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

Finovate Alumni News

On Finovate.com

  • Sberbank Earns Multiple Honors in Global Finance Awards.
  • California Bankers Association Selects Vantiv as EFT Processing Partner.

On FinDEVr.com

  • Prevoty Wins 2016 Stratus Award for Best Small Company Cloud Security Service.

Around the web

  • ITProPortal interviews Temenos Chief Strategy and Marketing Officer, Ben Robinson.
  • Fiserv launches Grapevine6 to help deliver content over its wealth management network.
  • Quantopian adds new Head of Trading, Dragan Skoko.
  • VISA and PayPal enter strategic partnership to improve payment experience for consumers.
  • Mobile Payments Today quotes Prairie Cloudware co-founder and CMO Michael Carter on banks and mobile wallets.
  • Wealthfront unveils updated iPhone app.
  • ProfitStars earns 2016 Top Workplace commendation from The Tennessean.
  • Espresso Capital features Outside IQ’s creativity in raising capital.
  • Yoyo Wallet expands to Singapore.
  • ThetaRay opens office in Singapore.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.