Noname Security lands $ 60 million Series B
PALO ALTO, Calif., June 30, 2021 (GLOBE NEWSWIRE) – In the wake of its emergence from stealth, the enterprise API security company Unnamed Security today announced a $ 60 million Series B led by Insight Partners, with Next47, Forgepoint and The Syndicate Group (TSG) joining the round and existing investors Cyberstarts and Lightspeed Venture Partners also participating. The round brings Noname’s total funding to $ 85 million since he emerged from stealth in December 2020.
The latest funding comes against a backdrop of rapid growth for the Silicon Valley-based startup. In the six months since its launch, Noname has amassed forty technology partners, resellers and distribution channels and hundreds of corporate clients in production or evaluation of the platform.
The demand is urgent as APIs – the connectors that clouds and software applications use to communicate with each other – have become the target of choice for cyber attackers, according to analyst firm Gartner.
“The growing volume of APIs and the increasing complexity of modern applications have resulted in increasing barriers to cybersecurity,” said Thomas Krane, director at Insight Partners. “Noname has entered the market at just the right time with fully realized next-generation technology that is having a huge impact on global customers. “
API vulnerabilities can take many forms. A developer’s forgotten side project. An incorrectly configured software interface. An obsolete block of code that has never been deleted.
Some of these security vulnerabilities are documented. Most are not. The vast majority go unnoticed, often for years, giving anyone who can find them unrestricted access to an organization’s most sensitive operations.
And too often, attackers find them first.
“When we show potential customers all of the vulnerabilities that Noname has discovered in their APIs, it’s a real lightning moment for them,” said Oz Golan, CEO and co-founder of Noname Security. “Even seasoned security professionals often have no idea how exposed their systems are. “
The Noname API Security Platform covers all aspects of API security, from discovery to analysis, remediation and testing. It creates a comprehensive inventory of an organization’s APIs and uses AI and machine learning to detect attackers, suspicious behavior, and configuration errors. It addresses API vulnerabilities by integrating with existing security infrastructure and blocking attacks in real time – all without deploying agents or requiring network changes. Customers can also use Noname to test APIs before deployment, preventing vulnerabilities from going into production.
Noname’s approach has won high praise and rapid adoption by customers.
“API security isn’t just about protecting against external attacks,” Golan said. “Noname is the only solution that addresses the full range of API vulnerabilities, including real-time API protection against adversaries, scanning the environment for misconfigurations and compliance issues, and ‘integration into the software development lifecycle by finding issues during the development process. Noname monitors relationships and information flows between all internal and external APIs. By discovering and analyzing everything in real time, it protects the entire environment throughout the API lifecycle before anything goes wrong, be it an outside threat. or an internal error.
Another part of Noname’s appeal is its turnkey design. Unlike competing products, Noname does not rely on an army of software agents to monitor applications and processes. Where agents reduce network performance and need to be installed, configured, and updated, Noname seamlessly integrates with clouds, on-premises environments, and other security and IT management tools. It’s not deployed but simply connected – one of the many qualities that quickly made Noname a favorite among IT security managers.
“APIs are a centerpiece of digital transformation and adoption of cloud-centric technology, and API security has risen to the top of CISO’s priority list,” said senior banking CISO Karl Mattson. “Noname’s team and technology are meeting this challenge head-on. “
“It is no coincidence that since going on general availability, Noname has won every competitive one-on-one evaluation that we have participated in,” Golan said. “Based on our traction and the feedback we have received from customers, it is clear that we are addressing a real need with a product that outperforms everything else in the market. “
To learn more about Noname, visit: www.nonamesecurity.com
About Nameless Security
Noname Security creates the most powerful, comprehensive, and easy-to-use API security platform that helps businesses discover, analyze, patch, and test all existing and modern APIs. Fortune 500 companies trust the Noname API security platform to protect their environments against API attacks, vulnerabilities, and misconfigurations. Noname is a privately held company headquartered in Palo Alto, California, with an office in Tel Aviv. www.nonamesecurity.com