Noname Security announces a $135 million (€120 million) investment round. With each quarter of the past year, the API security organization’s customer base and revenue grew 400 percent. The investment round serves to accommodate the explosive growth.
Noname Security was founded in 2020. A year later, the organization’s market value is estimated at more than a billion dollars. A ‘unicorn’, as companies with such value are described as in the United States. In the case of Noname Security, the description is accurate on more than a financial level.
In October of this year, we spoke to Steven Duckaert, EMEA Solutions Architect at the organization. Noname Security belongs to a rare, new breed. It facilitates API security. The base is a platform for overseeing, analyzing and optimizing all API connections in an environment.
The overview and analysis of APIs enables developers to detect and rectify misconfigurations and policy violations. The platform pinpoints odd connections and integrates with the tools required to respond to them. It does not intervene: the solution is agentless, observes environments only, and maps out areas for security improvement.
While the demand for Noname Security starts from a security point of view, developers are needed to leverage its insight. As such, Noname Security covers the field of both DevOps and security departments. It’s clearly doing a good job at that — an end to its remarkable growth is nowhere in sight.