Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Application Security

6/16/2020
10:35 AM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Salt Security Closes $20 Million Series A Funding Round Led by Tenaya Capital

Company's API Protection Platform revolutionizes application security in the age of Digital Transformation.

Salt Security, the leading API security company, today announced that it has raised $20 million in Series A funding led by Tenaya Capital, which has provided early-growth stage capital to transformational venture-backed technology businesses such as Palo Alto Networks, Armis, Lyft, and Kayak. This infusion of capital will enable Salt Security to continue investing in product development and innovation, address new use cases, and expand sales and marketing to meet increasing demand. To date, the company has raised a total of $30 million in equity financing. 

APIs at the core of web, mobile and SaaS applications are surging with recent reports showing 83% of internet web traffic is API traffic. With this digital transformation powered by APIs, a completely new attack surface has emerged. In fact, Gartner predicts that “by 2021, 90% of web-enabled applications will have more surface area for attack in the form of exposed APIs rather than user interfaces, up from 40% in 2019.”1 Salt Security is the first to market with a new breed of patented API Security solutions, able to uncover the vulnerabilities unique to each API and identify and respond to attackers before an attack is successful. The company was named a May 2020 Cool Vendor in API Strategy by Gartner, Inc.

“Salt Security prevents attacks that are impossible to detect with traditional security point-products,” said Roey Eliyahu, Co-Founder and CEO of Salt Security. “We are the only vendor in the space that can protect against all threats listed on the Open Web Application Security Project (OWASP) API Security Top 10 in addition to other increasing API-related security risks. Our expanding customer base is firmly focused on driving digital transformation, and our solution enables them to innovate and confidently secure the APIs driving critical technological advancements for their business.”

Previously, proxy-based solutions leveraging signatures and pattern matching have been used to secure web applications, but Salt Security’s innovative approach to securing APIs puts big data and patented AI front and center, revolutionizing application security and supporting the global push to digital transformation. The company’s technology has been integrated successfully into City National Bank, TripActions and Armis, among others, making it safe to innovate by protecting the APIs at the core of innovation and digital transformation found in every SaaS, web, mobile, microservices, and IoT application.

“APIs power the digital platforms that connect us to our customers and help fuel continued innovation and integrations,” said Curtis Simpson, CISO at Armis. “If compromised, attackers could gain access to customer accounts, valuable data and the ability to disrupt our business. Salt Security provides us with reliable, real-time, agile security to stop these attacks and protect critical customer data.”

Existing investors Haim Sadger and Aya Peterburg, Co-Founders of S Capital, formerly Sequoia, as well as independent investor Marius Nacht, Co-Founder and Chairman of Check Point Software significantly participated in this round. Strategic investor René Bonvanie, EVP of Strategic Accounts and former CMO at Palo Alto Networks, also participated. To help support the company’s enterprise growth strategy, Tom Banahan, Partner, Tenaya Capital, has joined Salt Security’s board of directors.

“We are thrilled to partner with Salt Security to actively support its rapid growth and focus on product innovation,” said Banahan. “The company’s leadership team has a deep background in the cybersecurity industry, including members of the elite IDF cyber unit as well as serial entrepreneurs who have experience building enterprise grade products and growing companies with over $100 million in revenue. We believe Salt Security is uniquely positioned to lead and define the emerging category of API security and strategy.”

1 API Security: What You Need to Do to Protect Your APIs, Mark O'Neill, Dionisio Zumerle, et al., 28 August 2019.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Salt Security

Salt Security protects the APIs that are the core of every SaaS, web, mobile, microservices and IoT application. Its API Protection Platform is the industry’s first patented solution to prevent the next generation of API attacks, using behavioral protection. Deployed in minutes, the AI-powered solution automatically and continuously discovers and learns the granular behavior of a company’s APIs and requires no configuration or customization to help ensure API protection. Salt Security was founded in 2016 by alumni of the Israeli Defense Forces (IDF) and serial entrepreneur executives in the cybersecurity field and is based in Silicon Valley and Israel. For more information, please visit: https://salt.security/.

 

 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
COVID-19: Latest Security News & Commentary
Dark Reading Staff 8/10/2020
Researcher Finds New Office Macro Attacks for MacOS
Curtis Franklin Jr., Senior Editor at Dark Reading,  8/7/2020
Healthcare Industry Sees Respite From Attacks in First Half of 2020
Robert Lemos, Contributing Writer,  8/13/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win an Amazon Gift Card! Click Here
Latest Comment: It's a technique known as breaking out of the sandbox kids.
Current Issue
Special Report: Computing's New Normal, a Dark Reading Perspective
This special report examines how IT security organizations have adapted to the "new normal" of computing and what the long-term effects will be. Read it and get a unique set of perspectives on issues ranging from new threats & vulnerabilities as a result of remote working to how enterprise security strategy will be affected long term.
Flash Poll
The Changing Face of Threat Intelligence
The Changing Face of Threat Intelligence
This special report takes a look at how enterprises are using threat intelligence, as well as emerging best practices for integrating threat intel into security operations and incident response. Download it today!
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-20383
PUBLISHED: 2020-08-13
ABBYY network license server in ABBYY FineReader 15 before Release 4 (aka 15.0.112.2130) allows escalation of privileges by local users via manipulations involving files and using symbolic links.
CVE-2020-24348
PUBLISHED: 2020-08-13
njs through 0.4.3, used in NGINX, has an out-of-bounds read in njs_json_stringify_iterator in njs_json.c.
CVE-2020-24349
PUBLISHED: 2020-08-13
njs through 0.4.3, used in NGINX, allows control-flow hijack in njs_value_property in njs_value.c. NOTE: the vendor considers the issue to be "fluff" in the NGINX use case because there is no remote attack surface.
CVE-2020-7360
PUBLISHED: 2020-08-13
An Uncontrolled Search Path Element (CWE-427) vulnerability in SmartControl version 4.3.15 and versions released before April 15, 2020 may allow an authenticated user to escalate privileges by placing a specially crafted DLL file in the search path. This issue was fixed in version 1.0.7, which was r...
CVE-2020-24342
PUBLISHED: 2020-08-13
Lua through 5.4.0 allows a stack redzone cross in luaO_pushvfstring because a protection mechanism wrongly calls luaD_callnoyield twice in a row.