API security platform Noname Security on Wednesday announced that it has become a cybersecurity unicorn after closing a $135 million Series C funding round.
The Silicon Valley-based startup came out of stealth in December 2020, and closed a $60 million Series B funding round in June 2021. To date, the company has raised $220 million.
The new funding round was led by Georgian and Lightspeed, with participation from existing investors Cyberstarts, Forgepoint, Insight Partners, Next47, and The Syndicate Group (TSG).
Noname Security takes a proactive approach to API security, analyzing code, configuration, and traffic to identify security issues such as misconfigurations and design flaws.
The enterprise API security provider, which says it blocks over 1,000 attacks per day, claims to have already identified and addressed misconfigured APIs potentially leading to billions of sensitive records being leaked.
The company says its platform provides API security capabilities to 20% of the Fortune 500 companies.
Noname Security plans to use the new investment to expand its go-to-market and research and development teams.
“Enterprises across all industries are experiencing widespread digitization, accelerating the adoption of thousands of new APIs and the critical need to secure them for businesses on a global scale,” Noname Security co-founder and CEO Oz Golan said.
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