Source Defense, a provider of web application client-side protection, says it pocketed $27 million in Series B funding, bringing the total investment raised by the company to $47 million.
The new funding round was led by Springtide Ventures, with participation from all previous investors, including AllegisCyber Capital, Capital One Ventures, Connecticut Innovations, Inc., Global Brain, Jerusalem Venture Partners, and NightDragon.
The company says its platform provides organizations with both security and compliance, so that businesses can keep users’ personal and financial information protected.
Source Defense says it will use the funding to accelerate growth by investing in research and development, sales, and marketing.
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