Source Defense, a Rosh Ha’ayin, Israel- and New Haven, Conn.-based web application client-side protection company, raised $27m in Series B funding.
The round is led by new investor Springtide Ventures with all existing investors also participating, including Jerusalem Venture Partners (JVP), AllegisCyber Capital, Global Brain, Connecticut Innovations, Inc., NightDragon, LLC, and Capital One Ventures. In addition to the funding, Karel Tusek, CTO of Springtide Ventures, will join the Source Defense Board of Directors.
The company intends to use the new funds to accelerate growth plans, including investments in Sales, Marketing, Alliances, and Research and Development.
The company currently protects nearly a billion monthly site visits and defends transactions for some of the world’s largest businesses, preventing approximately 6 billion quarterly violations of security and compliance policies from occurring in the process.