Unicorn Untitled: Noname The new member of the Billionaires Club

Noname Security raises $ 135 million and reaches a value of $ 1 billion - in a year and a half alone.

To date, the company has raised a total of $ 220 million, making it one of the fastest growing cyber companies and the first API Security company in the world to become Unicorn

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15/12/2021

Wednesday, 15 December 2021, 15:13 Updated: 16:02

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The startup company Noname Security, which specializes in securing software interfaces for corporations (APIs), raised $ 135 million in the third round, just about six months from its previous round and now stands at $ 1 billion - only a year and a half since its inception.

Lightspeed and Georgian funds led the fundraising which also involved existing investors who took a significant part in the round including Insight Partners, Cyberstarts, Next47, Forgepoint and The Syndicate Group (TSG).

The recruitment round is designed to support the company's global growth and expand its research and development efforts.

Noname Security has raised $ 220 million so far, just a year after leaving Stealth, making it one of the fastest growing cyber companies and the first unicorn in the field of API security.

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Oz Golan, CEO of Noname Security and Shai Levy, Chief Technology Officer (CTO). They met, of course, during their service at 8200 (Photo: Yossi Zeliger)

Noname Security was established in early 2020 by Oz Golan, who serves as the company's CEO, and Shai Levy, Chief Technology Officer (CTO), whom they recognized during their military service in Unit 8200.

The recruitment round was completed in the midst of significant growth for the company. The company has 400% of its customers and revenues, including 2 of the 5 largest pharmaceutical and pharma companies in the world, one of the world's leading retail chains, one of the largest communications companies in the world, and in addition, Noname Security works actively with 20% of Fortune 500 companies.

The company already employs more than 200 people in Palo Alto and Tel Aviv.

Proactive approach to threats in cyber attacks (Photo: ShutterStock)

Identify the threat before the attack

Noname Security's great success is attributed to its unique proactive approach to ensuring the security of APIs throughout their lives. This is in contrast to other solutions on the market that are based solely on the analysis of network movements - in order to indicate activity attacks.

Noname Security performs analysis for configuration, real-time network traffic and also the code itself in order to diagnose the widest range of security issues, including configuration issues and architecture issues.

A recent study by IBM found that two-thirds of cloud interface vulnerabilities are due to incorrect API configuration and these interfaces are the most common entry path for attackers. In addition, according to research firm Gartner API will constitute the most common attack surface for cyber attacks in 2022.

Since the company launched its first product it has prevented information leakage events of billions of sensitive records due to incorrect definition of APIs. Today the company blocks over a thousand attacks a day on APIs related to its customers.

: "Many companies, in all areas of the industry are undergoing digitization and technological development, a development that requires the use of thousands of APIs, along with this growth the need to provide these interfaces increases. With the great help of our investors, we will continue to lead the API security field, and provide our customers with the most advanced and effective security product in the field. "

From the beginning, he said in response to the recruitment: "I am happy to see the rapid development of Noname Security. This recruitment round is a testament to the hard work and dedication of the team in building a cyber security solution for the best APIs in the world. A solution that serves the most significant and largest customers.

"We are very excited about the partnership with Noname Security as the technologies and solutions the company develops for advanced APIs - and provide the best response in the market. This investment is a testament to the trust we place in the company and the product it develops. "Noname Security and we will continue our cooperation with the company's research and development teams in order to improve the product and lead in the field of API security."

: "As someone who invested in Noname Security in the early stages - it was clear to me that Shai Levy and Oz Golan found a solution to a significant problem that grows with digital development. As the use of APIs increases - so does Noname Security's product enable organizations to identify and secure APIs. We are proud to support Noname Security and take a significant part in the development and growth of the company. "

: "Noname Security's development is one of a kind and provides very comprehensive security for APIs in companies and organizations. Most of the solutions offered on the market today focus on cyber attacks only after they have happened.

Noname Security's solution identifies the vulnerability "In addition to the ability to detect attacks in real time. Beyond that, technology makes it possible to see the state of the interfaces at any given time and identify vulnerabilities."

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Tags

• Unicorn

• Hi-Tech

• Cyber

• start up

• recruitment