Alphabet’s CapitalG Makes Big Bet on Salt Security
Salt Security is the latest addition to a growing list of cybersecurity startups boasting billion-dollar valuations.
The Palo Alto, Calif.-based Salt Security on Thursday announced a new $140 million funding round that brings its valuation to $1.4 billion and signals heightened investor interest in the API security space.
This round brings the company’s total funding to $271 million, with $210 million raised in the last 12 months.
The $140 million Series D was led by CapitalG, Alphabet’s independent growth fund with participation from all existing investors, the company said. The big bet comes as demand for API security technologies surge, driven by multi-cloud deployments and global digital transformation.
Salt Security, founded in 2016 by Roey Eliyahu, provides an API protection platform to pinpoint and block malicious attacks against the connection points for modern computer networks.
CapitalG partner James Luo, who sits on Salt Security’s board, said the firm’s investment comes amidst a realization that securing the APIs powering global digital transformation is of critical importance.
“APIs are essential to enabling business innovation, but security risks are multiplying at an unprecedented scope and scale,” Luo said, crediting Salt Security with building an API security platform capable of stopping attacks in the wild.