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Be part of as we speak’s main executives on-line on the Knowledge Summit on March ninth. Register right here.
Salt Safety, an API vulnerability and safety platform utilized by corporations similar to Equinix and Telefónica, has raised $140 million in a collection D spherical of funding.
The elevate comes because the burgeoning API economic system continues apace, with corporations throughout the economic spectrum embracing APIs (software programming interfaces) as half their digital transformation endeavors.
APIs, in a nutshell, assist corporations construct services and products extra shortly by leveraging domain-specific experience reasonably than having to construct each single function of their software from scratch. APIs carry login authentication to banking apps and maps to health apps, and are powering the broader shift from monolithic software program to the cloud and microservices-based purposes constructed from smaller, function-based elements.
There’s an API for that
Nevertheless, APIs — as with all endpoints — function potential conduits for nefarious cyber deeds. Numerous API vulnerabilities have emerged by the years, together with from well-resourced tech corporations similar to Fb.
Salt Safety not too long ago reported that API site visitors throughout its buyer base grew 141% in a six-month interval final 12 months, with malicious site visitors growing by 348%. It’s price noting that these clients had API gateways and WAFs (internet software firewalls) in place, that means that unhealthy actors have been discovering methods to infiltrate conventional safety measures.
One of many obstacles to detecting API vulnerabilities is that corporations won’t at all times know the place all their APIs are. Salt Safety’s main function is to first uncover and inventorize APIs in an organization’s stack, together with so-called “zombie” APIs that will nonetheless be lively regardless of having been presumed disabled.
On prime of this, Salt Safety permits corporations to stop delicate information publicity by surfacing the APIs that channel personally identifiable data (PII); makes use of large information and AI to investigate site visitors and spot uncommon actions; and prevents account takeover by figuring out patterns similar to extreme logins or manipulation of person IDs.
Salt Safety touts robust progress over the previous 12 months, claiming a 500% progress in income; 300% progress in buyer depend; and 250% progress in staff.
“APIs present the muse for innovation in as we speak’s economic system,” Salt Safety CEO and cofounder Roey Eliyahu stated in a press release. “Our imaginative and prescient for Salt Safety has at all times been to make it safer and simpler for corporations to innovate by securing APIs within the face of a rising and dynamic assault floor.”
Based out of Palo Alto, California, in 2016, Salt Safety had beforehand raised round $131 million, together with a $70 million tranche final 12 months. For its collection D spherical, the corporate attracted Alphabet’s CapitalG progress fund as lead investor, with participation from present buyers together with Sequoia Capital, bringing its valuation to $1.4 billion.
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