The API security company Salt Security, today announced a $140 million Series D investment round led by CapitalG, Alphabet’s autonomous growth fund, with participation from all previous investors.
Salt Security’s valuation has increased to $1.4 billion as a result of the current investment. All previous investors in Salt Security, including Sequoia Capital, Y Combinator, Tenaya Capital, S Capital VC, Advent International, Alkeon Capital, and DFJ Growth, participated in this round as well.
CapitalG’s investment comes less than eight months after Salt Security closed a $70 million Series C round, at a time when firms look to protect the APIs that power their digital transformation, application mobilization, and other IT modernization initiatives. This investment takes the total funding raised by the company to $271 million, including $210 million in the last 12 months.
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Salt Security was founded in 2016 by CEO Roey Eliyahu and Michael Nicosia, alumni of the Israeli Defense Forces (IDF) and serial entrepreneur executives in the cybersecurity field. Salt Security is based in Silicon Valley and Israel.
The company revenue increase of 500 percent; Customer base increases by 300 percent; 250 percent increase in the number of employees; Customer sign-ups increased by 900 percent among Fortune 500 and Global 500 organizations.
Expansion of the executive and worldwide operations
The company says the investment cements its position in the API security market as one with the most funding, highest valuation, most clients, and deepest penetration among Fortune and Global 500 organizations.
“APIs are critical for corporate innovation, but security dangers are increasing on a never-before-seen scale. Salt developed a new, best-in-class strategy to developing its API security company, employing cloud-scale big data to effectively identify and stop threats in the field without sacrificing strong shift-left capabilities,” said James Luo, a CapitalG partner, and Salt Security board member. “Salt Security has a demonstrated track record of success as the market’s leading solution, and our interviews with clients confirmed that Salt provides market-leading protection and the quickest time to value. We look forward to collaborating with the Salt Security team in order to push the company to the next level of market penetration and success.”
YC Continuity invests exclusively in the most exceptional, category-defining companies. One of them is Salt Security. YC Continuity’s managing director, Ali Rowghani, stated. “Salt will become an iconic security firm. Salt’s founders had the vision to build this vital category five years ago, and they have led it ever since by developing the industry’s most secure and robust solution. We increased our investment due to the company’s innovation and domination.”Salt has attracted a number of high-profile financial services, insurance, pharmaceutical, eCommerce/retail, and digital services organizations to its customer base over the last year. Takeda Pharmaceuticals, bp Launchpad (bp’s digital innovation and scale-up section), Markel, Icatu Seguros, Apiture, and Berkshire Bank are among the most recent new customers. During the same time period, Salt Security was responsible for:
Salt Security will use the additional funding to accelerate R&D investment, sales and marketing, and international expansion in order to combat the growing amount of cyber threats targeting APIs.
Salt hired a number of executives in a variety of functional areas, including:
Kfir Lippmann, Chief Financial Officer, oversaw Monday.com’s finances from its inception with 40 workers until its initial public offering.
Yaniv Balmas, VP of Research, joins Salt Labs after eight years overseeing cyber research at Check Point Software Technologies.
Jon Peppler, VP of global channels at Bitglass, Menlo Security, and Proofpoint
Nico Wagemans, EMEA Sales Director, previously held top positions in sales at Nutanix and Cohesity.
Daniela Costa, Sales Director for Latin America and the Caribbean, has held sales leadership positions at Arcserve and CA Technologies.