Salt Security, a Palo Alto, Calif.-based API security company, secured $70m in Series C funding.
The round was led by Advent International, through Advent Tech, with participation from Alkeon Capital and DFJ Growth, and existing investors Sequoia Capital, Tenaya Capital, S Capital VC, and Y Combinator.
The company intends to use the funds to expand its global operations across R&D, sales and marketing, and customer success.
Led by Roey Eliyahu, CEO and co-founder, Salt Security protects the APIs that form the core of every modern application. Its API Protection Platform is a patented solution to prevent the next generation of API attacks, using machine learning and AI to automatically and continuously identify and protect APIs. Deployed in minutes, the platform learns the granular behavior of a company’s APIs and requires no configuration or customization to pinpoint and block API attackers.
To date, the company has raised $131 million, $120 million of it in the last year. In the past 12 months, Salt has driven 400% growth in revenue, 160% growth in employees, and 380% growth in the API traffic it secures.