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.
Led by Dan Dinnar, CEO, Source Defense is a security and compliance platform for any website that collects sensitive data or is transaction-oriented. It addresses a ubiquitous gap in the management of third-party digital supply chain risk with a zero-trust model that extends security beyond the network to the client-side. As the market leader in web application client-side protection, Source Defense provides real-time threat detection, protection, and prevention of vulnerabilities originating in JavaScript. The patented Source Defense Platform offers a complete solution to address threats and risks originating from the increased use of JavaScript, third-party vendors, and open-source code in websites today. It protects leading organizations across multiple verticals, including financial services, healthcare, hospitality, and retail, offering cybersecurity prevention capability, compliance (e.g., PCI, HIPAA, GDPR), as well as better flexibility for marketing teams and developers.
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.
FinSMEs
26/04/2022