I am thrilled to announce that ThreatX has raised $30 million in Series B funding, led by Harbert Growth Partners, with participation from Vistara Growth and our existing investors: .406 Ventures, Grotech Ventures, and Access Venture Partners. With this funding, we plan to accelerate investments in platform development and scale our global sales and marketing initiatives.
This funding highlights not only the significant risk posed by the rapid growth in APIs, but also the incredible work and perseverance of the ThreatX team. I’m so proud of this team and the powerful technology we have built, and am excited for the future this funding will make possible.
That future involves enhancing our platform, which already stands in stark contrast of other API security solutions by providing organizations the ability to discover and visualize their attack surface; block attacks in real-time; and have access to 24/7 managed services to support resource-constrained security teams.
This announcement caps off an incredible first half of 2022 that saw ThreatX:
- Launch new, powerful product capabilities: In April, we announced API Schema Compliance to help customers centrally manage OpenAPI schemas for the API endpoints we discover and protect, and a new API Dashboard that details API endpoint usage and how it compares to expected behavior.
- Earn analyst recognition: We were named as a Visionary in late 2021 in the September 2021 Gartner® Magic Quadrant™ for Web Application and API Protection, and just recently as a Sample Vendor in the July 2022 Gartner® Hype Cycle™ for Application Security in the API Threat Protection and Cloud WAAP categories.
- Garner several awards: ThreatX was recognized as “Most Innovative in Web Application Security” in the 2022 Global InfoSec Awards. We were also awarded 2022 Globee Cyber Security Global Excellence Awards and 2022 Cybersecurity Excellence Awards in several categories.
- Expand our team: We welcomed around 20 new team members in 2022, including CFO Libby Merrill and VP of Engineering Phil Lawrence in 2022.
We’re just getting started. API security is a huge and growing problem, and we’ve got the only solution that delivers on the promise of blocking API attacks in real time.