US-Israeli enterprise API security company Noname Security announced last week that it has secured $135 million in a Series C funding round. The round puts the company at an over $1 billion valuation, making it a unicorn.
The funding round was led by Georgian and Lightspeed, with participation from existing investors including Insight Partners, Cyberstarts, Next47, Forgepoint, and The Syndicate Group (TSG).
The funding comes six months after the company’s Series B funding, which raised $60 million led by Insight Partners. That round came six months after the company emerged from stealth mode with $25 million in funding in December 2020.
This new investment will fund the global expansion of Noname Security’s go-to-market and R&D teams. Noname Security has raised $220 million in total financing to date just one year out of stealth, which the company said made it one of the fastest-growing cybersecurity companies ever and is the first API Security company to achieve unicorn status.
Founded in 2020 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.
“Enterprises across all industries are experiencing widespread digitization, accelerating the adoption of thousands of new APIs and the critical need to secure them for businesses on a global scale,” said Oz Golan, co-founder and CEO at Noname Security. “With the backing of Georgian, along with our existing investors, we will continue to expand our industry-leading technology to help our customers mitigate the risk of deploying APIs.”