Total amount raised
$220 Millions
Latest funding date
Location
Noname Security has successfully raised multiple funding rounds, culminating in a Series C round, and was acquired by Akamai Technologies for $450 million. The company has garnered support from notable investors, including Next47 and Georgian.
Keep reading to explore the intricacies of Noname Security's fundraising journey and the investors backing this innovative platform.
What Is Noname Security?
Noname Security, founded in 2020, is a prominent player in the cloud and network security industry. Headquartered in Palo Alto, California, the company specializes in protecting APIs from vulnerabilities and attacks. The platform offers comprehensive solutions for API discovery, posture management, runtime protection, and security testing.
Founded by Oz Golan and Shay Levi, Noname Security has grown rapidly, employing between 251 and 500 people. The company's innovative approach to API security has garnered significant attention, leading to its acquisition by Akamai Technologies for $450 million.
How Much Funding Has Noname Security Raised?
- Series A
- Amount Raised: $25M
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To help Noname Security emerge from stealth mode and begin its operations, focusing on developing its API security solutions.
- Series B
- Amount Raised: $60M
- Date: June 2021
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the company's technology and expand its market presence.
- Series C
- Amount Raised: $135M
- Date: December 2021
- Lead Investors: Georgian, Lightspeed Venture Partners
- Valuation at Round: $1 billion
- Motivation Behind the Round: To fund the global expansion of Noname Security's go-to-market and research and development teams.
Total Amount Raised: $220M
Current Valuation: $1 billion
Key Investors
- Georgian
- Details: Georgian is a growth equity firm that invests in high-growth technology companies. The firm focuses on providing growth capital and uses a data-first approach to identify and accelerate the best growth-stage software companies.
- Investment Focus Areas: High-growth technology companies, software companies, data-driven businesses
- Notable Investments: Shopify, FreshBooks
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm that focuses on early-stage investments in the enterprise and consumer sectors. The firm has a global presence and supports innovative startups.
- Investment Focus Areas: Enterprise, consumer sectors, early-stage startups
- Notable Investments: Snap, Affirm, MuleSoft
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm that invests in growth-stage technology and software companies. The firm has a strong track record of supporting companies through their growth phases.
- Investment Focus Areas: Growth-stage technology, software companies, SaaS
- Notable Investments: Twitter, Shopify, DocuSign
- Next47
- Details: Next47 is a global venture firm backed by Siemens, investing in startups that are shaping the future of industries. The firm leverages Siemens' resources and expertise to support its portfolio companies.
- Investment Focus Areas: Technology, industrial innovation, startups shaping future industries
- Notable Investments: Verkada, Markforged
- Forgepoint
- Details: Forgepoint is a venture capital firm focused on early-stage cybersecurity companies. The firm aims to support the next generation of cybersecurity innovators.
- Investment Focus Areas: Cybersecurity, early-stage startups, technology
- Notable Investments: Attivo Networks, Bishop Fox
What's Next for Noname Security?
Noname Security stands at the cusp of significant growth opportunities, driven by the increasing digitization across industries and the critical need for robust API security solutions. With a $1 billion valuation and a recent $135 million Series C funding round, the company is well-positioned to expand its global go-to-market and R&D teams. The launch of the Unnamed Partner Program and its collaboration with 20% of the Fortune 500 companies further amplify its market reach.
Future fundraising opportunities appear promising as Noname Security continues to demonstrate rapid growth, with over 400% increase in customer and revenue each quarter. The company's proactive approach to API security, leveraging AI and machine learning, makes it an attractive candidate for additional investments. However, challenges such as staying ahead of evolving cybersecurity threats and maintaining a competitive edge in a dynamic market will require strategic focus and continuous innovation.
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