Total amount raised
$220 Million
Latest funding date
12/01/2021
Location
Noname Security has successfully raised funding over three rounds, with notable participation from investors such as Georgian and Lightspeed Venture Partners. The company has been acquired by Akamai Technologies, marking a significant milestone in its journey.
Keep reading to explore the intricacies of Noname Security's fundraising journey and the investors backing this innovative platform.
What Is Noname Security?
Noname Security, based in Palo Alto, California, specializes in developing software to protect organizations by identifying vulnerabilities and defending against attacks in API systems. The company operates in the Cloud Security, Enterprise Software, and Network Security industries.
With an employee count ranging between 251-500, Noname Security has made significant strides in the cybersecurity landscape. The company has been acquired by Akamai Technologies, further solidifying its position in the market.
How Much Funding Has Noname Security Raised?
- Series A
- Amount Raised: USD 25,000,000
- Date: December 2020
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial scaling and product development after emerging from stealth.
- Series B
- Amount Raised: USD 60,000,000
- Date: June 2021
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for scaling operations and further development.
- Series C
- Amount Raised: USD 135,000,000
- Date: December 2021
- Lead Investors: Georgian, Lightspeed Venture Partners
- Valuation at Round: USD 1,000,000,000
- Motivation Behind the Round: To fund global expansion of go-to-market and R&D teams.
Total Amount Raised: USD 220,000,000. Current Valuation: USD 1,000,000,000.
Key Investors
- Georgian
- Details: Georgian is a growth equity firm that invests in high-growth technology companies. They focus on providing growth capital to software company CEOs and their teams.
- Investment Focus Areas: High-growth technology companies, data-driven solutions.
- Notable Investments: Shopify, FreshBooks, Top Hat.
- Lightspeed Venture Partners
- Details: Lightspeed is a venture capital firm that focuses on early-stage investments in the enterprise and consumer sectors. They support innovative companies at various stages of growth.
- Investment Focus Areas: Enterprise, consumer sectors, innovative technology.
- Notable Investments: Snap, AppDynamics, MuleSoft.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm investing in high-growth technology and software companies. They have a strong focus on growth-stage investments.
- Investment Focus Areas: Growth-stage technology, software companies.
- Notable Investments: Twitter, Wix, Pluralsight.
- Cyberstarts
- Details: Cyberstarts is a venture capital firm specializing in cybersecurity startups. They focus on early-stage investments in the cybersecurity sector.
- Investment Focus Areas: Cybersecurity startups.
- Notable Investments: Wiz, Fireblocks, Axis Security.
- Next47
- Details: Next47 is a global venture firm backed by Siemens, investing in startups that are shaping the future of industries. They focus on technology innovation across various sectors.
- Investment Focus Areas: Industry-shaping startups, technology innovation.
- Notable Investments: Verkada, Markforged, Augury.
What's Next for Noname Security?
Noname Security stands at the cusp of significant growth opportunities, driven by the increasing demand for robust API security solutions. With a strong foothold in the market, including partnerships with 20% of the Fortune 500 companies, the company is well-positioned to expand its global reach. The launch of the Unnamed Partner Program, which includes over 70 partners, further amplifies its market presence and potential for growth.
Future fundraising opportunities appear promising, given the company's rapid growth and recent $135 million Series C funding round. This financial backing will likely support further expansion of their go-to-market and R&D teams, enabling them to enhance their technology and product offerings. The growing importance of API security across industries suggests that Noname Security may attract additional investments to scale its operations and innovate further.
However, the path ahead is not without challenges. Noname Security must navigate the complexities of maintaining its competitive edge in a rapidly evolving market. The company will need to stay ahead of emerging security threats and ensure the scalability and reliability of its solutions. Additionally, intense competition from other cybersecurity firms specializing in API security could pose significant hurdles. Despite these challenges, Noname Security's proactive approach and strong market position suggest a bright future ahead.
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