Shape Security Grabs $40M in Series D

What does Shape Security do?

Shape Security, is a provider of security technology for mobile and web applications for the largest companies in the world. The company provides best in class defense against automated cyber-attacks on mobile and web applications. The company has deflected over a billion dollars in fraud losses for financial institutions, major retailers, government agencies and airlines. This company has the backing from Norwest Venture Partners, Google Ventures, Kleiner Perkins Caufield & Byers, Venrock, Baseline Ventures and other prominent investors.

How much Shape Security was funded?

The company raised $40M in Series D on September 29, 2016 from EDB Investments, Norwest Venture Partners – NVP, Kleiner Perkins Caufield & Byers, Baseline Ventures,  GV, Northern Light Venture Capital, EPIC Ventures, Venrock and TomorrowVentures.

Previous funding

$6M in Series A on April 26, 2012 form Kleiner Perkins Caufield & Byers,  Wing Venture Capital, TomorrowVentures, Baseline Ventures and GV.

$20M in Series B on January 7, 2013 from Venrock,  Allegis Capital, Kleiner Perkins Caufield & Byers, GV,  Enrique Salem and TomorrowVentures.

$40M in Series C on February 24, 2014 from Allegis Capital,  GV, TomorrowVentures, Venrock, Norwest Venture Partners – NVP,  Kleiner Perkins Caufield & Byers and Sierra Ventures.

What is next for Shape Security?

The company plans on using the latest funding raised for building on strong consumer traction and looks at expanding sales all over the country and globally. It will boost its growth in the APAC region especially, with new equity from Singapore based EDBI.  Their mobile solution launched formally in Jan 2016, now protects over 20% of all in-store mobile payments all over the world.

More about Shape Security

Shape Security was founded in 2011 by Sumit Agarwal,  Derek Smith and Justin Call. It has its headquarters in Mountain View, California. It has 23 US patents, designed for stopping the most dangerous app attacks.