Cequence invests $60 million in Series C to strengthen API security

Cequence Security had recently raised a $17 million Series B round in February 2019, focusing on security to protect business logic. While it continues to do so, it has turned its attention to API security and announced a $60 million Series C funding round today.

New investors Icon Ventures, Telstra Ventures, and HarbourVest Partners joined Shasta Ventures, Dell Technologies Capital, and T-Mobile Ventures in the latest round, which Menlo Ventures led. The startup has now raised $100 million, according to the company.

According to CEO Larry Link, the company noticed additional vulnerabilities through APIs with clients. So the Cequence analytics engine was shifted to detect such kinds of flaws.

“We now will discover what your API footprint looks like. [Without having] to instrument it, we’re finding things, and then we detect [any] abuse that’s going on on those API endpoints, and then we can mitigate that. So that’s how the product has evolved,” says Link.

Link claims that the company has grown 2.5 times in the previous year and that there is still plenty of space for expansion. “We’re not releasing our revenue numbers, but it’s a very healthy growth rate and pretty high ARR for this kind of the business, and that’s why we wanted to raise this Series C, because we have a lot of opportunity. We need to fuel that,” he said.

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