Cequence Security Sees Record Growth as API Security Risks Explode
Leader in API security secures 4 new patents, adds notable new investors, expands global reach and more
Sunnyvale, Calif., June 22, 2021 — Cequence Security, a leading API security vendor, today announced strong corporate momentum with significant growth in revenue, customers and brands protected over the last 12 months, further validating its groundbreaking, open and extensible AI-based API security platform. With over 2 billion API transactions analyzed each day, Cequence Security helps organizations prevent fraud and data loss caused by automated attacks and business logic abuse executed against public facing APIs.
“We’re protecting end users as they pay their bills, secure much needed loans, manage their money, make purchases and track deliveries, decorate their homes, look for love, dine with family and friends, and relax with music,” said Larry Link, CEO of Cequence Security. “While we have been shining a light on API security risks for years, their role in the development process has exploded, driving organizations to invest in tools to strengthen their API security posture to deliver even stronger protections for their customers.”
API security incidents involving Peloton, Clubhouse, Experian, and John Deere, have proven that collaboration between security and development teams is more important than ever before. APIs have become the fabric for most organizations’ digital footprint, making them an even larger percentage of organizations’ attack surface. Because of this, visibility into these risks is rapidly going beyond an IT problem to a C-level concern.
In helping their customers address these growing threats Cequence Security achieved the following milestones:
- Significant Customer Growth: Increased the number of brands protected by 425 percent while almost tripling overall revenue.
- Expanded Global Footprint & Industry Reach: Expanded reach of protections into 15 new countries and added customers across several verticals, notably:
- Telecommunications: Protecting accounts for over 100 million customers in this space.
- Retail: Securing digital transactions for over 800 retailers that service more than 70 percent of the U.S. adult population.
- Financial Services: Securing APIs for 85 percent digital banking providers who serve over 30 million users.
- Online Dating: Expanded customer base, now protecting over 70 million users.
- Bolstered Team with New Hires Globally: To support increased customer demand, Cequence Security grew their team by 33 percent and established new sales operations in the UK, Germany, France, and the Netherlands.
- Product Innovation That Extends a Revolutionary Prevention Approach: Launched API Sentinel and secured 4 new patents that bolster Cequence Security’s unique approach towards Web and API protection.
- Strategic Investments: Sharing in the mission to protect customers and their applications from security and privacy threats T-Mobile Ventures invested in the business, along with existing investors Dell Technologies Capital and Shasta Ventures.
To learn more about Cequence Security’s capabilities or schedule a demo, visit: https://www.cequence.ai/
About Cequence Security
Cequence Security is a venture-backed cybersecurity software company founded in 2015 and based in Sunnyvale, CA. Its mission is to transform application security by consolidating multiple innovative security functions within an open, AI-powered software platform that protects customers’ web, mobile, and API-based applications – and supports today’s cloud-native, container-based application architectures. Learn more at www.cequence.ai.
Merritt Group for Cequence Security