Web application Security Company Signal Sciences, the firm based out of Venice, has secured fresh funding of $35 million in Series C round. Lead Edge Capital, New York-based growth equity firm led the investment round and got support from CRV, Index Ventures, Harrison Metal, and OATV. The current capital infusion takes the total amount raised by the company to $61.7 million.
The company was founded by Andrew Peterson, Nick Galbreath, and Zane Lackey as a platform which monitors and defends web applications of the customers. The company reads the behaviour of the users visiting a website and takes action if the visitor is malicious.
Andrew Peterson, the CEO of the company suggested that the year 2019 will be massive for the company. “We’re doubling down on engineering innovation and partnerships to deliver maximum security value for our customers as well as expanding key areas of our business to drive continued growth,” said Peterson.
The firm as per Peterson now protects more than 10,000 applications which get more than 1 trillion requests every month. Signal Sciences counts top firms like Adobe, Under Armour, Chef, Etsy, Datadog, and WeWork. It claims to have more than 150 employees.
Lorrie Norrington, a partner at Lead Edge Capital is set to join the board of firm as part of the investment. Commenting on the investment Norrington said, Signal Sciences has set a new standard with automation and integrated technology that work at digital speed and enterprise scale,” added Lorrie Norrington, Lead Edge Capital operating partner, who also now joins Signal Sciences’ board of directors. “This is what market-changing technology looks like, and it’s providing the protection for business-critical apps that companies need today.”
The company is regarded as one of the fastest growing web security firms and the current capital infusion would mean that the firm will continue their journey towards the massive growth.
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