UPDATED 09:00 EDT / DECEMBER 15 2021

SECURITY

API security startup Cequence raises $60M to expand product offerings

Application programming interface security startup Cequence Security Inc. announced today that it has raised $60 million in new funding to support enhancements to its solutions expand its product offerings.

Menlo Ventures led the Series C round. Also participating in the round were ICON Ventures, Telstra Ventures, HarbourVest Partners, Shasta Ventures, Dell Technologies Capital and T-Mobile Ventures. Venky Ganesan of Menlo Ventures will also join the company’s board.

Including the new funding, Cequence has raised $89.5 million to date, according to Crunchbase.

Founded in 2014, the company offers the Application Security Platform, an open distributed and scalable software platform designed to protect customers’ web, mobile and API applications from malicious bot attacks. The platform provides web and runtime API visibility, security risk monitoring and behavioral fingering to constantly detect and protect against ever-evolving online attacks such as online fraud, business logic attacks, exploits and unintended data leakage.

Cequence says its API Sentinel service allows customers to keep track of all their APIs with 360-degree visibility, inventory tracking and traffic analysis of public-facing and internet APIs. This includes APIs on the edge and the data center through to service mesh environments.

Sentinel automatically discovers and visualizes APIs leaking data for rapid remediation. The service also offers specification conformance enforcement, allowing users to discover and remediate APIs that are out of conformance with OpenAPI specifications.

Cequence’s API security solution protects against 2 billion API transactions per day, a figure claimed by the company to be unmatched by competitors.

The company has seen strong growth off the back of advancements in business applications in response to the COVID-19 pandemic. Cequence services over 85 brands worldwide, including Fortune 500 and 100 companies in markets ranging from banking and beauty to retail and consumer mobile apps.

“From social networks to online shopping and financial services, so many aspects of our lives and digital experiences are tied to APIs,” Larry Link, chief executive officer of Cequence Security, said in a statement. “That’s why it’s critical to be able to manage your entire API inventory to address security gaps and protect against rising API threats that may lead to fraud and data loss.”

Image: Cequence

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