Courtesy of a Series B funding round led by Sequoia Capital, API protection platform company Salt Security has doubled its total equity capital. The company, which is based in Palo Alto, California, picked up $30 million in new funding this week. Existing investors Tenaya Capital, S Capital VC, and Y Combinator also participated in the investment.
“APIs have become a fundamental unit of software,” Sequoia Partner Carl Eschenbach explained. “Salt Security enables organizations to discover APIs, prevent real-time attacks, and facilitate remediation, so customers can continue to operate and innovate in an increasingly digitized world.”
Salt Security’s Series B comes only a few months after the company completed a $20 million Series A round in June. The firm said that the new capital will help the company invest in product development, sales and marketing, and customer acquisition in 2021. As part of the deal, Eschenbach, as well as representatives from Tenaya Capital and S Capital, will join Salt Security’s board of directors.
“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,” Salt Security co-founder and CEO Roey Eliyahu said. “Having someone of Carl’s caliber and experience guiding us will simply accelerate our success in the API security market.”
Salt Security notes that its API Protection Platform is the only patented API security solution designed for each stage of the API lifecycle. The technology learns the behavior of company APIs at a granular level, and uses machine learning and AI to automatically identify and block API attacks. The technology can be deployed in minutes with no configuration or customization required.
Salt’s platform was named a 2020 Cool Vendor in API Strategy by Gartner and a SINET 16 Innovator Winner for 2020. This fall, the company has announced partnerships with Carrefour, a French multi-national retail corporation, and U.S.-based, global colocation data center company Equinix.
Founded in 2016, Salt Security is headquartered in Silicon Valley, California; and in Israel. Forbes featured company co-founder Eliyahu in its 30 Under 30 roster earlier this month.
Photo by Castorly Stock from Pexels