Israeli co Noname Security raises $25m

Originally posted on Globes.

The company has developed a holistic security platform that allows enterprises to see and to secure managed and unmanaged APIs.

Israeli enterprise API security company Noname Security came out of stealth today and announced closing a $25 million financing round from Lightspeed, Insight Partners and Cyberstarts.

Noname Security, founded earlier this year by CEO Oz Golan and CTO Shay Levi, has developed a holistic security platform that allows enterprises to see and to secure managed and unmanaged APIs exposed by the organization, consumed by the organization or used internally, thus eliminating the API security blind spots.

Golan said, “Application security has a huge blind spot. A leaky API on T-Mobile’s website exposed customer data. The US Postal Service API vulnerability exposed personal information of 60 million users of its online service. The fact you cannot place agents on every application server, and you cannot trust network architecture to funnel all APIs through a single gateway, means we need a new approach. We built Noname to give enterprises complete visibility into all APIs in their environment without requiring an agent or relying on API gateways. We can stop APIs from compromising corporate assets, regardless of whether those APIs are managed by IT or not.”

Gili Raanan, Cyberstarts founder, was the first to partner with Noname, while Guru Chahal, Partner at Lightspeed Venture Partners, and Thomas Krane, Principal at Insight Partners, joined to close the Series A round.

Ra’anan said, “The exponential growth of APIs introduces risk that most enterprises are not prepared to handle. Oz and Shay’s strong vision combined with their decision to blend top Israeli engineering talent with sales and marketing executives from Cylance, Armis and NSO set them up for success.”