SUNNYVALE — Cequence Security, a provider of application security solutions for hyper-connected enterprises, has secured $17 million in Series B funding, bringing total funding for the company to $30 million. The round is led by Dell Technologies Capital with additional participation from Shasta Ventures, which led the previous round of funding for the company. The new funding will fuel market expansion as well as continued platform innovations.
Cequence Security is focused on transforming the multi-billion dollar application security market with an open, container-based software platform that is easily deployed in the cloud or on premises, and integrates multiple security services. Each security module leverages the intelligence and automation of a patented, AI-powered analytics engine to protect organizations from a broad range of attacks – including business logic abuse, account fraud, and content scraping – that compromise the web, mobile, and API application services that connect their customers, partners, and suppliers.
“In today’s digital economy, Internet-facing applications and APIs are a prime target for a broad range of sophisticated semantic and syntactic attacks,” said Larry Link, President and CEO of Cequence Security. “We’re delighted to have investment partners like Dell Technologies Capital and Shasta Ventures, who share our vision and mission to deliver continued innovations that protect the ever-growing number of hyper-connected organizations against these types of application attacks.”
“The application security market is certainly ripe for transformation due to automation of business logic cyberattacks and expanding attack surface aided by exponentially-increasing usage of IaaS clouds, APIs and mobile apps. Cequence Security is well positioned to be a major disruptor,” said Deepak Jeevankumar, Managing Director at Dell Technologies Capital. “Larry and his team transformed the network security market by leading the business team at Palo Alto Networks in the years of hyper-growth. We believe they can do the same to the application security market.”