On Wednesday, December 15, Israel-based API security firm Noname Security unlocked $ 135 million in a Series C fundraiser for a valuation of $ 1 billion, making it the first API security unicorn – a private company with a valuation of at least $ 1 billion.
Georgian and Lightspeed spearheaded Noname’s latest fundraising effort, while existing investors including Insight Partners, Cyberstarts, Next47, Forgepoint and The Syndicate Group (TSG) also participated in the roundtable, giving the company a new capital for its global expansion and research and development.
Noname has raised $ 220 million since its inception about a year ago.
“Businesses across industries are experiencing widespread digitalization, accelerating the adoption of thousands of new APIs and the critical need to secure them for businesses globally,” said Oz Golan, Co-Founder and CEO of Noname Security, in the company’s announcement. . “With the support of Georgian and our existing investors, we will continue to extend our leading edge technology to help our customers mitigate the risk of API deployment. “
Noname Security has discovered and fixed misconfigured APIs that have allegedly leaked data from billions of sensitive records and blocked more than 1,000 attacks per day on its customers.
Related news: Israel’s Noname Security Raises $ 60 Million to Protect APIs
In June, Noname Security closed a $ 60 million Series B funding round. Since its launch in December 2020, Noname has partnered with technology, resale and distribution partners.
Noname’s API Security Program uses machine learning to uncover attackers, suspicious behavior, and other things that might be wrong, then fixes APIs through integrations with current security software and can block attacks by real time without deploying agents or requiring network changes.
“API security isn’t just about protecting against external attacks,” CEO Golan told PYMNTS. “Noname is the only solution that addresses the full range of API vulnerabilities, including real-time API protection against adversaries, environmental scanning for configuration errors and compliance issues, and integration into the software development lifecycle by finding issues during the development process.