Salt Security, which protects all types of APIs, has closed its Series A round on $20m, brining its total equity raised to $30m.
Tenaya Capital led the investment, with additional contributions coming from previous backers including, S Capital co-founders Haim Sadger and Aya Peterburg, and Check Point Software co-founder Marius Nacht.
Former Palo Alto Networks CMO René Bonvanie also joined the round.
The capital injection will be used to help Salt Security to increase its product development and innovation, address new use cases, and expand its sales and marketing efforts to meet rising demand.
Last year, the cybersecurity startup collected $10m in a funding round from S Capital, Lookout co-founder Kevin Mahaffey and Check Point Software co-founder and chairman Marius Nacht.
Salt Security claims that APIs are becoming the core or web, mobile and SaaS applications, with 83% of web traffic being supported by APIs. This is leaving more areas for cyber attacks.
Furthermore, Gartner is predicting that 90% of web-enabled applications will have more surface area for attack in the form of exposed APIs as opposed to user interfaces.
Salt Security is offering its technology to uncover the vulnerabilities of each API and identify and respond to attackers.
In conjunction with the deal, Tenaya Capital partner Tom Banahan has joined Salt Security’s board of directors.
Armis CISO Curtis Simpson said, “APIs power the digital platforms that connect us to our customers and help fuel continued innovation and integrations.
“If compromised, attackers could gain access to customer accounts, valuable data and the ability to disrupt our business. Salt Security provides us with reliable, real-time, agile security to stop these attacks and protect critical customer data.”
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