Noname Security joins the cyber unicorn club following Series C

US-based API security firm Noname Security has secured the unicorn horn after a recent $135m Series C pushed its valuation over $1bn.

The financing round was led by Georgian and Lightspeed and saw participation from Cyberstarts, Insight partners, The Syndicate Group, Next47 and Forgepoint.

Noname offers a security platform that enables companies to secure managed and unmanaged APIs. The platform is designed to ‘eliminate API blind spots’ and protects enterprises from data leakage, authorisation issues, abuse, misuse and data corruption.

The company’s platform creates a complete inventory of an organisations APIs and then uses AI and machine learning to find attackers, suspicious behaviour and misconfiguration.

Noname claims its platform provides API security capabilities to 20% of the Fortune 500 companies.

This recent funding round comes off a recent $60m Series B raise in June this year. To date, Noname has raised $220m.

According to Noname, it plans to use its new funding to expand its go-to-market and research and development teams.

Noname Security CEO and co-founder Oz Golan said, “Enterprises across all industries are experiencing widespread digitisation, accelerating the adoption of thousands of new APIs and the critical need to secure them for businesses on a global scale.”

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