US-based Kasada, a cybersecurity startup specializing in fighting persistent bot attacks on the web, mobile, and API channels, raised USD 23 million on 6th December.
Investors: The investment round was led by new investor StepStone Group and participated by existing investors Ten Eleven Ventures, Main Sequence Ventures, Reinventure (Westpac’s venture capital arm), Our Innovation Fund, and Turnbull & Partners.
Purpose of funding: Startup plans to use funding by strengthening its operations to defend against persistent and dynamic cyberattacks. As the startup focused on operations, it also focused on expansion throughout the US and entering into e-commerce business worldwide.
About Kasada
Founded in 2015 by Sam Crowther, Kasada is located in New York, US. Kasada is a cybersecurity startup that specializes in fighting persistent bot attacks on the web, mobile, and API channels. Rather than using traditional methods to mitigate bot attacks, the startup utilizes an approach to overcome these challenges. The company offers a modern anti-bot solution that provides long-term protection against attacks by frustrating and counteracting them. This service prevents automated attacks from entering an organization’s infrastructure in real-time. With billions of bot interactions analyzed with machine learning (ML), this is further enhanced.
In contrast with first-generation solutions, it does not require configuring rules, assigning risk scores, or implementing CAPTCHAs. As bot operators continuously update their tactics against websites, mobile apps, and APIs, the platform adapts to new attacks. New York, Sydney, Melbourne, San Francisco, and London are now part of the startup’s footprint.
What the founder has to say
“Businesses are tired of bot mitigation solutions that are difficult to operate, time-consuming to maintain, and cannot keep up with the latest tools bot operators use,” said Sam Crowther, founder, and CEO at Kasada.
“At Kasada, we’ve set out to make application security much easier to implement and use, while also improving its effectiveness. We’ve ensured that security doesn’t get in the way of the customer experience, by eliminating friction such as CAPTCHAs that hurt online conversions – and your brand.”
What the investor has to say
“Kasada has demonstrated impressive growth while expanding beyond Australia, with momentum among enterprise customers in the eCommerce, hospitality, travel, fintech, online gaming, and Internet service industries,” said Hunter Somerville, Partner at StepStone Group.
“The effect bots have on an organization’s profitability and customer experience has become a C-level concern. Kasada has raised the expectations of what an anti-bot solution should be.”
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