Israeli cybersecurity company Salt Security today announced the completion of a $140 million Series D financing round, led by Alphabet’s growth fund CapitalG, with participation from all existing investors. The latest investment comes less than eight months after Salt Security raised $70 million and brings the valuation of the company to $1.4 billion. This round brings the company’s total funding to $271 million, with $210 million raised in the last 12 months.
Salt Security has captured a leading position in the API (application programming interface) market by developing a API context engine architecture, which can discover APIs, stop API attacks, and eliminate API vulnerabilities in development. The company has already made deep penetration among Fortune and Global 500 enterprises. Recent new customers include Takeda Pharmaceuticals, BP Launchpad (the digital innovation and scale up unit of BP), Markel, Icatu Seguros, Apiture, and Berkshire Bank.
Salt Security will use the new funds to increase R&D investment, expand sales and marketing, and more rapidly grow its international operations to address the growing number of cyber threats targeting APIs.
With offices in Tel Aviv and Palo Alto, California, the company was founded in 2016 by CEO Roey Eliyahu and COO Michael Nicosia. Over the past year Salt Security has seen 500% revenue growth, 300% growth in its customer base and 250% growth in its work force.
Eliyahu said, "APIs provide the foundation for innovation in today’s economy. Our vision for Salt Security has always been to make it safer and easier for companies to innovate by securing APIs in the face of a growing and dynamic attack surface," said Roey Eliyahu, CEO and co-founder, Salt Security. "We are honored to have CapitalG as our strategic partner as we achieve this vision at global scale and widen our lead in this important industry."
Published by Globes, Israel business news - en.globes.co.il - on February 10, 2022.
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