Noname Security, an Israeli API security startup, has raised $135 million in Series C funding at a valuation of $1 billion.
Georgian and Lightspeed led the investment round, which included significant participation from previous investors such as Insight Partners, Cyberstarts, Next47, Forgepoint, and The Syndicate Group (TSG).
Noname Security has raised a total of $220 million in funding in less than a year since emerging from stealth, making it one of the fastest-growing cybersecurity businesses and the first API security company to achieve unicorn status. Noname has secured $60 million in its Series B round.
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Noname stated that in the year since its launch, it has increased customer and revenue growth by more than 400 percent each quarter, with customers including two of the world’s five largest pharmaceutical companies, one of the world’s three largest retailers, and one of the world’s three largest telecommunications companies. Additionally, the company stated that it is currently working with 20% of the Fortune 500 and has increased its global staff to more than 200 individuals.
Oz Golan and Shay Levi, co-founders of Noname Security. Yossi Zeliger Oz Golan and Shay Levi, co-founders of Noname Security. Yossi Zeliger
Oz Golan, CEO, and Shay Levi, CTO, launched Noname Security in 2020. The corporation is headquartered in Palo Alto, California, and operates a research and development center in Tel Aviv. Golan was previously the Director of Engineering at NSO and served alongside Levi in the Israeli Defense Forces’ Unit 8200.
“Enterprises across all industries are rapidly digitizing, speeding the adoption of thousands of new APIs and the crucial need to secure them for global enterprises,” said Oz Golan, co-founder and CEO of Noname Security. “With Georgian’s support, as well as that of our existing investors, we will continue to build our industry-leading technology to assist our customers in mitigating the risk associated with API deployment.”
The rapid growth of Noname Security can be ascribed to its proactive approach to API security across the whole software development lifecycle. Unlike the majority of current solutions, which depend primarily on traffic analysis to identify active attacks, Noname Security examines configuration, traffic, and code to identify the broadest collection of API vulnerabilities – including misconfigurations and design problems.
“We’re ecstatic to work with Noname Security’s world-class team, as its differentiated technology and proactive approach to API security address an unmet market demand and a rising business concern,” said Michael Robinson, Lead Investor at Georgian. “This investment demonstrates our conviction that Noname Security has an amazing opportunity to define the future of API security, a vital component of digital transformation.”