Israeli cybersecurity company Salt Security today announced that it has raised $10 million in funding for its patented AI-based API protection platform, which was launched today. The funding round includes investments from Israel-based S Capital, Kevin Mahaffey, and Marius Nacht, chairman and co-founder of Check Point Software, one of the largest security companies in the world. S Capital Founding Partner Haim Sadger will join Salt Security’s board of directors.
Salt Security will use the funding to increase R&D for its core platform and add support for new use cases and broader requirements in response to growing customer demand.
“Salt Security tackles the most important vulnerability for enterprises today by providing industry’s only solution that can protect APIs,” Sadger said. “We believe that they will transform the way organizations approach security, and we are excited to help them achieve dominance in the industry.”
As APIs have proliferated across SaaS, web, mobile, microservices, and IoT applications - and the quantity and sensitivity of the data transmitted have increased - API attacks have become more frequent and more complex, making them the number one threat for any company.
Traditional solutions do nothing to detect or prevent the latest attacks that exploit unique vulnerabilities in each API’s logic to allow attackers to access sensitive applications and data. Salt Security provides real-time protection against these logic-based attacks. Using artificial intelligence (AI) and granular knowledge of each unique API to determine normal behavior, Salt Security looks for malicious behavior in each API. This empowers companies to identify attacks while they are still in the reconnaissance phase and stop them before they advance.
Salt Security cofounder and CEO Roey Eliyahu said, “It’s a significant milestone to receive the backing of some of the brightest and most successful names in the technology industry and we believe this funding validates our perspective on the market, the challenges of API attacks, and the value of our API protection platform. This is a growing security challenge across many industries and geographies that remains dangerously unaddressed by existing solutions, particularly as more businesses rely on applications that use APIs to deliver core business services to employees, customers and partners.”
Published by Globes, Israel business news - en.globes.co.il - on January 29, 2019
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