API security platform Noname Security today announced that it has raised $60 million in Series B funding. The new round brings the total raised by the company to $85 million.
Founded in 2020, the Silicon Valley-based enterprise API security startup aims to help organizations secure both managed and unmanaged APIs. The startup says it has seen fast growth since emerging from stealth in December 2020.
Over the past six months, the company has attracted 40 channel, reseller, and technology partners, while also adding hundreds of enterprises to its customer base.
Noname Security claims its product can help enterprises reduce their attack surface by identifying and addressing API vulnerabilities. The Noname API Security Platform leverages AI and machine learning to detect attacks, misconfigurations, and suspicious behavior.
The new funding round was led by Insight Partners, with participation from new investors Forgepoint, Next47, and The Syndicate Group (TSG), and existing investors Cyberstarts and Lightspeed Venture Partners.
“There’s a lot more to API security than just protecting against external attacks. Noname monitors the relationships and flows of information between all internal and external APIs. By discovering and analyzing everything in real-time, it protects the entire environment throughout the API lifecycle before something goes wrong, whether it’s a threat from the outside or an internal error,” Oz Golan, CEO and co-founder of Noname Security, said.