Concept: California’s security software startup Cequence Security has rolled out an ML-based application programming interfaces (API) security platform that protects users’ APIs and web-based applications from automated bot attacks and vulnerability exploits. The startup claims that the new platform unifies API discovery and inventory tracking with risk analysis, remediation, and real-time threat prevention across any cloud platform. The startup claims that the new platform serves over 85 brands globally and protects two billion API transactions per day.
Outlook: API-based attacks are increasing across all the industries across the globe and organizations looking at solutions to mitigate the risks due to the API-based attacks. The most common API-based attacks involve the exploitation of an API’s authentication and authorization policies. Cequence Security claims that its new security platform helps organizations to mitigate the risks due to API-based attacks and provides more visibility into all of the organizations’ APIs. In December 2021, the startup raised $60M in a Series C funding led by Menlo Ventures, with participation from Icon Ventures, Telstra Ventures, HarbourVest Partners, Shasta Ventures, Dell Technologies Capital, and T-Mobile Ventures. The startup aims to use the funding to recruit new talents and develop new software including natural language analysis that can find common patterns that can pose a risk within API communications.