Israeli co Salt Security raises $20m

Israeli API security company Salt Security today announced that it has raised $20 million in Series A funding led by Tenaya Capital. This brings to $30 million the amount raised by the company and the new funds will be used to invest in product development and innovation, address new use cases, and expand sales and marketing to meet increasing demand.

Salt Security is marketing a new breed of patented API Security solutions, able to uncover the vulnerabilities unique to each API and identify and respond to attackers before an attack is successful.

Salt Security cofounder and CEO Roey Eliyahu said,"Salt Security prevents attacks that are impossible to detect with traditional security point-products. We are the only vendor in the space that can protect against all threats listed on the Open Web Application Security Project (OWASP) API Security Top 10 in addition to other increasing API-related security risks. Our expanding customer base is firmly focused on driving digital transformation, and our solution enables them to innovate and confidently secure the APIs driving critical technological advancements for their business."

Previously, proxy-based solutions leveraging signatures and pattern matching have been used to secure web applications, but Salt Security’s innovative approach to securing APIs puts big data and patented AI front and center, revolutionizing application security and supporting the global push to digital transformation. The company’s technology has been integrated successfully into City National Bank, TripActions and Armis, among others, making it safe to innovate by protecting the APIs at the core of innovation and digital transformation found in every SaaS, web, mobile, microservices, and IoT application.

Existing investors Haim Sadger and Aya Peterburg, cofounders of S Capital, formerly Sequoia, as well as independent investor Marius Nacht, Co-Founder and Chairman of Check Point Software significantly participated in this round. Strategic investor René Bonvanie, EVP of Strategic Accounts and former CMO at Palo Alto Networks, also participated. To help support the company’s enterprise growth strategy, Tom Banahan, Partner, Tenaya Capital, has joined Salt Security’s board of directors.

Banahan said, "The company’s leadership team has a deep background in the cybersecurity industry, including members of the elite IDF cyber unit as well as serial entrepreneurs who have experience building enterprise grade products and growing companies with over $100 million in revenue. We believe Salt Security is uniquely positioned to lead and define the emerging category of API security and strategy."

Published by Globes, Israel business news - en.globes.co.il - on June 16, 2020