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Salt Security, 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 financial system continues apace, with corporations throughout the economic spectrum embracing APIs (utility programming interfaces) as a part of their digital transformation endeavors.
APIs, in a nutshell, assist corporations construct services extra shortly by leveraging domain-specific experience reasonably than having to construct each single function of their utility from scratch. APIs deliver 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 parts.
There’s an API for that
Nonetheless, 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 recently reported that API site visitors throughout its buyer base grew 141% in a six-month interval final yr, with malicious site visitors growing by 348%. It’s value noting that these clients had API gateways and WAFs (net utility firewalls) in place, that means that dangerous actors had been discovering methods to infiltrate conventional safety measures.
One of many obstacles to detecting API vulnerabilities is that corporations won’t all the time know the place all their APIs are. Salt Safety’s main objective is to first uncover and take stock of APIs in an organization’s stack, together with so-called “zombie” APIs that will nonetheless be energetic regardless of having been presumed disabled.
On prime of this, Salt Safety allows corporations to forestall delicate knowledge publicity by surfacing the APIs that channel personally identifiable data (PII). The corporate additionally makes use of huge knowledge 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 consumer IDs.
Salt Safety touts sturdy progress from the previous yr, claiming a 500% progress in income; 300% progress in buyer depend; and 250% progress in staff.
“APIs present the muse for innovation in right now’s financial system,” Salt Safety CEO and cofounder Roey Eliyahu stated in an announcement. “Our imaginative and prescient for Salt Safety has all the time 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 yr. For its collection D spherical, the corporate attracted Alphabet’s CapitalG progress fund as lead investor, with participation from current traders together with Sequoia Capital, bringing its valuation to $1.4 billion.