Application security management (ASM) provider Sqreen has announced the close of a $14m Series A funding round, which was led by Silicon Valley-based VC firm Greylock Partners, bringing the total funding raised by the ASM firm to more than $18m.
Fellow investors in the funding round included Y Combinator, Alven Capital and Point Nine, with Greylock partner Sarah Guo joining Sqreen's board.
Sqreen's ASM platform, which is currently used to protect more than 500 companies, features a hybrid SaaS architecture which uses microagents embedded in applications to identify and protect against real-time threats.
Greylock partner Sarah Guo said: "Sqreen's fresh approach is a paradigm shift – a unique platform that eliminates the tradeoff between innovation and security.
"Today every company is a software company, and Sqreen supports that by putting a scalable security solution in the hands of developers, operations and security teams," Guo added. "Just as application performance has become key to every digital business, and APM is embedded in every app that matters, application security will too."
Created by former leaders of Apple's offensive security team, Sqreen's technology goes beyond the HTTP layer, using instrumentation logic to detect malicious activities within an application. The company claimed that its runtime application self-protection (RASP) module was the most broadly deployed in the world.
Pierre Betouin, CEO and co-founder of Sqreen, commented: "Security is a must-have for SaaS and internet companies and organizations of any size that ship software for their business.
"Security needs to enable developers and the rest of the company – it can't be a silo that blocks or slows down releases anymore," noted Betouin, who was the former leader of Apple's security Red Team.