Serial entrepreneur Oliver Friedrichs scores $25 million from Ballistic Ventures to build an API security services platform.
Pangea Cyber, an early-stage startup working on technology to help developers add security and compliance features to applications, has landed $25 million in venture capital financing.
Pangea, the brainchild of serial entrepreneur Oliver Friedrichs, said the Series A funding round was led by Ballistic Ventures, a new investment firm focused exclusively on cybersecurity companies.
In a note announcing the funding round, Pangea said it is working on a platform to help developers embed security services and APIs into their cloud applications.
The technology, currently in closed testing, is promising “a comprehensive portfolio of API-based security services through a single platform.”
“Before Pangea, a builder who needed to add security and compliance features to their application had to write security code from scratch” the company explains. “Builders now can go to a single, trusted source to embed the security services and APIs they need into their application quickly and easily.”
[ Read: The Next Big Cyber-Attack Vector: APIs ]
The Palo Alto, Calif.-based Pangea plans to release API-based microservices with features for Secure Audit Logging, Secure Object Store, Secure File Share, and Digital Embargo Check. The company said it also plans to aggregate and offer third-party APIs via partnerships.
Friedrichs, who scored prior exits with Immunet (acquired by Sourcefire) and the Phantom Cyber SOAR platform (acquired by Splunk), said the explosion of cloud-delivered data and applications has left security gaps in the ecosystem.
“[The] security industry has focused on building products for the enterprise end-user, not the app builder. APIs are often after-thoughts,” Friedrichs said. “We are seizing the opportunity to give builders the capabilities they need to deliver a compliant and secure customer experience, easier and faster.”
The Pangea funding comes at a time when investors are pouring cash into startups in the API security category. Earlier this month, Traceable AI landed a $60 million funding round to join a competitive space that includes Salt Security ($140 million funding), Noname Security, Corsha, Cequence and 42Crunch.
Related: Noname Security Raises $60 Million in Series B Funding
Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. He is a security community engagement expert who has built programs at major global brands, including Intel Corp., Bishop Fox and GReAT. Ryan is a founding-director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world.
More from Ryan Naraine
- Tenable Launches $25 Million Early-Stage Venture Fund
- VMware Plugs Critical Code Execution Flaws
- GoTo Says Hackers Stole Encrypted Backups, MFA Settings
- Apple Patches WebKit Code Execution in iPhones, MacBooks
- Thoma Bravo to Buy Magnet Forensics in $1.3B Transaction
- T-Mobile Says Hackers Used API to Steal Data on 37 Million Accounts
- Chainguard Trains Spotlight on SBOM Quality Problem
- Exploited Control Web Panel Flaw Added to CISA ‘Must-Patch’ List
Latest News
- Critical Vulnerability Impacts Over 120 Lexmark Printers
- BIND Updates Patch High-Severity, Remotely Exploitable DoS Flaws
- Industry Reactions to Hive Ransomware Takedown: Feedback Friday
- Microsoft Urges Customers to Patch Exchange Servers
- Iranian APT Leaks Data From Saudi Arabia Government Under New Persona
- US Reiterates $10 Million Reward Offer After Disruption of Hive Ransomware
- Cyberattacks Target Websites of German Airports, Admin
- US Infiltrates Big Ransomware Gang: ‘We Hacked the Hackers’
