ThreatX, a Denver, CO-based web application and API protection (WAAP) platform, raised $10m in funding.
The round was led by .406 Ventures with participation from existing investors Access Venture Partners and Grotech Ventures. In conjunction with the funding, Greg Dracon, Partner, .406 Ventures, will join the ThreatX board of directors.
The company intends to use the funds to:
- Accelerate business on all fronts and increase revenue by 150% in 2021.
- Enhance its worldwide sales engine to further penetrate existing markets and expand into new vertical segments.
- Strengthen its fully-managed WAAP services team to offer clients the application security expertise necessary to combat adversaries.
- Grow its engineering team to continue to develop innovations that keep its top-rated WAAP platform ahead of the competition.
- Expand its US operations by establishing a presence on the East Coast with a new office in Boston.
Led by Gene Fay, CEO, ThreatX provides a web application and API protection (WAAP) platform that protects web applications and APIs from all threats, including DDoS attempts, BOT attacks, API abuse, exploitations of known vulnerabilities, and zero-day attacks. Its multi-layered detection capabilities accurately identify malicious actors and dynamically initiate appropriate action.