Six months after emerging from stealth mode with $25 million in funding, US-Israeli enterprise API security company Noname Security raised a Series B round of $60 million led by Insight Partners, with Next47, Forgepoint, and TSG joining the round and existing investors Cyberstarts and Lightspeed Venture Partners participating as well.
The round brings Noname’s total funding to $85 million since emerging from stealth in December 2020.
Founded that same year by Oz Golan, current CEO and Shay Levi, current CTO, Noname Security “eliminates API security blind spots” and protects enterprises from data leakage, authorization issues, abuse, misuse, and data corruption with no agents and no network modifications. It offers a holistic security platform that lets enterprises see and secure managed and unmanaged APIs — the connectors that clouds and software applications use to communicate with one another –exposed by the organization, consumed by the organization, or used internally, thereby eliminating the API security blind spots that exist in most businesses today.
“When we show potential customers all the vulnerabilities Noname has discovered in their APIs, it’s a real light-bulb moment for them,” said Golan in a company statement. “Even seasoned security professionals often have no idea how exposed their systems are.”
“There’s a lot more to API security than just protecting against external attacks,” he added. Noname “addresses the full range of API vulnerabilities, including protecting APIs in real-time from adversaries, scanning the environment for misconfigurations and compliance issues, and becoming part of the software development lifecycle by finding issues during the development process. Noname monitors the relationships and flows of information between all internal and external APIs. By discovering and analyzing everything in real-time, it protects the entire environment throughout the API lifecycle before something goes wrong, whether it’s a threat from the outside or an internal error. “
“The surging volume of APIs and the growing complexity of modern applications has led to an increase in cybersecurity obstacles,” said Thomas Krane, principal at Insight Partners. “Noname came to market at just the right time with a fully realized, next-gen technology that’s making a big impact with global customers.”
“Based on our traction and the feedback we’ve received from customers, it’s clear we’re serving a real need with a product that surpasses everything else on the market,” Golan said.
Noname Security is headquarated in Palo Alto, California, with an office in Tel Aviv.