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Cequence Security, which as we speak introduced a $60 million collection C funding spherical, stated it has doubled the client base for its API safety platform this 12 months and plans to launch a self-service subscription providing in 2022 to assist proceed its brisk development tempo. The Sunnyvale, California-based firm now has 85 prospects, together with T-Cellular and Estée Lauder, and stands out with its use of machine studying (ML) capabilities for detection of API threats, Larry Hyperlink, president and CEO of Cequence Safety, informed VentureBeat.
“Our ML-based detection separates malicious from reliable and blocks them natively, with out-of-the-box insurance policies — one thing no different API safety vendor does presently,” Hyperlink stated in an electronic mail.
The “complete” platform unifies API discovery and stock monitoring with danger evaluation, remediation, and real-time menace prevention throughout any cloud, he stated.
API safety has come to the forefront with enterprises throughout all industries within the technique of turning into digital companies — a shift that necessitates giant portions of APIs (software programming interfaces). The software program serves as an middleman between totally different purposes, permitting apps and web sites to entry extra knowledge and achieve better performance. By 2022, the overwhelming majority of web-enabled apps — 90% — may have extra floor space uncovered for assault within the type of APIs than through the human person interface, based on Gartner analysis.
In the meantime, a number of API safety distributors have reported a surge in API-based assaults throughout 2021. Undoubtedly, “APIs are an rising assault level,” stated Peter Firstbrook, vice chairman and analyst at Gartner, at a latest convention placed on by the analysis agency.
Probably the most frequent API-based assaults contain exploitation of an API’s authentication and authorization insurance policies. In these assaults — also referred to as “leaky” APIs — the hacker breaks the authentication and the authorization intent of the API with a purpose to entry knowledge.
In the end although, with API safety, “the primary problem prospects have is that they don’t know what number of APIs they’ve — and you can not defend what you can not see,” Hyperlink stated.
Thus, Cequence Safety’s platform begins with enabling prospects to find and create an up to date stock of all of their APIs. Then, the platform helps prospects to research and remediate the dangers which have been launched by coding errors, whereas additionally defending the shoppers and their APIs with “native, enterprise-class menace prevention,” Hyperlink stated.
The inspiration of the platform is the corporate’s patented ML-based analytics engine, CQAI, which discovers APIs and analyzes their danger posture, then detects and prevents threats, he stated.
New fashions within the works will embody pure language evaluation that may discover frequent patterns that will pose a danger inside API communications, based on Hyperlink. Different updates underneath improvement embody an enhancement for the platform’s discovery capabilities to supply prospects with an “inside-out” view of their assault floor space, he stated.
Moreover, with the assistance of the brand new funding spherical, Cequence is growing a brand new self-service, subscription-based model of its API discovery product, Hyperlink stated.
The funding was led by Menlo Ventures, with participation from Icon Ventures, Telstra Ventures, HarbourVest Companions, Shasta Ventures, Dell Applied sciences Capital, and T-Cellular Ventures. Cequence Safety has now raised $100 million since its founding in 2015.
Throughout 2021, Cequence has seen 3X income development year-over 12 months, based on Hyperlink. Together with T-Cellular and Estée Lauder, different prospects embody American Specific, Narvar, Houzz, and Zulily. The corporate reviews that its platform presently protects 2 billion API transactions per day.
Cequence’s headcount now stands at 80, which has greater than doubled over the previous 12 months — and the corporate is aiming to double its staff once more over the approaching 12 months, Hyperlink stated.
Key geographies for market growth in 2022 will embody the U.S., Europe, Asia, and Australia, he stated.
Cequence was based by chief product officer Ameya Talwalkar and chief know-how officer Shreyans Mehta. The founders beforehand labored at Symantec, the place Talwalkar was director of improvement and Mehta was architect and technical director, each serving within the firm’s Safety Expertise and Response unit. Earlier roles for Hyperlink included serving as senior vice chairman of worldwide gross sales at Palo Alto Networks.
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