Israeli API security company Salt Security today announced the completion of a $70 million Series C financing round, led by Advent International, and with participation from Alkeon Capital and DFJ Growth. Existing investors Sequoia Capital, Tenaya Capital, S Capital VC, and Y Combinator also participated in the round. Salt will use the funds to expand its global operations in R&D, sales and marketing, and customer success.
This brings to $131 million, the amount raised by Salt Security including $120 million over the last year. In the past 12 months, Salt has seen revenue grow 400%, a 160% growth in employees, and 380% growth in the API traffic it secures.
Salt Security offers a unique approach to API security through its flagship solution, the Salt Security API Protection Platform. The big data engine and AI and ML at the heart of the Salt C-3A Context-based API Analysis Architecture automates the continuous discovery of APIs and exposed sensitive data, stops API attackers during their reconnaissance activities, and delivers remediation insights. Needing no agents, software changes, or inline code, the patented Salt platform deploys quickly, with no impact on application performance.
With offices in Tel Aviv and Palo Alto, California, the company was founded in 2016 by CEO Roey Eliyahu and COO Michael Nicosia.
Eliyahu said, "Several recent high-profile API security incidents have forced organizations to recognize that their existing protections cannot prevent API attacks or handle the scale and complexity of today’s API-driven applications. This new round of funding will help us increase our rate of innovation and businesses in more regions securely adopt APIs to foster their own innovation."
Published by Globes, Israel business news - en.globes.co.il - on May 26, 2021
© Copyright of Globes Publisher Itonut (1983) Ltd. 2021