Shape Security, a Mountain View, CA-based provider of advanced security technology for web and mobile applications, closed a $40m Series D round of funding.
Backers included strategic investors Hewlett Packard Pathfinder, the Hewlett Packard Enterprise (HPE) venture investment and partnership program, EDBI, Baseline Ventures, Kleiner Perkins Caufield & Byers, NVP, Venrock, Google Ventures, Eric Schmidt, and Northern Light Ventures.
The company, which has raised $106m in total funding, intends to use the funds to expand sales throughout the U.S. and internationally, mainly in the APAC region.
Led by Derek Smith, CEO, Shape Security provides large financial, retail and travel companies and government agencies with a platform, covered by 23 US patents, to stop dangerous application attacks enabled by cybercriminal automation tools, including credential stuffing (account takeover), application DDoS, unauthorized aggregation, and other threats.
Shape’s participation in the Hewlett Packard Pathfinder program includes a strategic sales partnership agreement whereby HPE will offer the Shape solution to its customers worldwide to protect themselves from automated attacks across platforms.