Sqreen, a San Francisco-based company that provides application security solutions, on Tuesday announced that it raised $14 million in a Series A funding round.
The funding round, which brings the total raised by the company to over $18 million, was led by Greylock Partners and Y Combinator, with participation from previous investors Alven Capital and Point Nine. Sqreen told SecurityWeek that the money will be used to expand the company.
Sqreen, founded by former leaders of Apple’s offensive security team, claims to already have over 500 customers around the world.
The company offers what it calls an Application Security Management (ASM) platform that relies on micro-agents embedded into applications to identify threats and mitigate them in real time. The solution, which is advertised as ideal for both web applications and cloud workloads, should be easy to use and deploy — Sqreen says it takes under five minutes — without requiring any modifications to the code, the installation of complex on-premises software, or redirecting traffic.
Sqreen’s solution uses a hybrid security-as-a-service (SaaS) architecture and it relies on several modules — each of them can be enabled with one click — to provide deep security and risk visibility. Modules include the runtime application self-protection (RASP) module, which the company says is the most widely used, an in-app web application firewall, and an account takeover protection module.
“The state of the art for application security is outdated and complex with approaches that don’t work in production, slow down app development, and are expensive to use and maintain. Today every company is a software company, and Sqreen supports that by putting a scalable security solution in the hands of developers, operations and security teams.” said Sarah Guo, a Greylock partner who will join Sqreen’s board of directors.
“Just as application performance has become key to every digital business, and APM is embedded in every app that matters, application security will too. Sqreen’s fresh approach is a paradigm shift — a unique platform that eliminates the tradeoff between innovation and security,” Guo added.