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Source Defense is known for its unique website security solution, which focuses on preventing malicious activity originating in website supply chain vendors
Fremont, CA: Client-side web security firm Source Defense secured USD 10.5 million in a Series A+ funding round, participated by new investor Capital One Ventures, and existing investors JVP, Allegis Cyber, Global Brain, and NightDragon. The extension investment round emphasizes the growing importance of Source Defense's preventative cybersecurity technology, allowing for business continuity as online commerce captures center stage for enterprises and government organizations. Proceeds from the investment round will be used by the company to accelerate growth and enhance its patented VICE Client-side Web Security Platform to align with the growing demand in the market.
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[vendor_logo_first]"The demand for combining premium online shopping experience with the state-of-the-art security controls has proved an urgent need for our solution," said company CEO, Dan Dinnar. "Our success with several Fortune 500 companies, including a most recent deployment at a Fortune 50 company, is proof of the value we can provide industry leaders, in view of rampant activity by attackers." Source Defense is known for its unique website security solution, which focuses on preventing malicious activity originating in website supply chain vendors. The company's patented technology, based on machine learning and industry-leading practices, helps provide customers with a fully automated and dynamic solution that controls access and permissions of various active components operating on a website.
"Source Defense's innovative solution is becoming much more significant with the surge in cyberattacks since the Corona eruption. We are happy to work again with Dan Dinnar, CEO, who has already demonstrated his excellent management capabilities in key positions at JVP's portfolio companies, CyberArk (CYBR) and HexaTier, the founders and the team. We believe in the high growth potential of Source Defense and its capabilities to create a new global standard to protect websites," said Erel Margalit, JVP Founder, and Chairman.
Source Defense was founded by Hadar Blutrich and Avital Grushcovski and has more than tripled its sales over the last 12 months. The company also expanded the Research and Development teams, established strategic channel partnerships, and secured top talent to round out its executive team. "It's a vote of confidence in our technology and business plan despite what is going on in the world today," added Dinnar. "Our team is busier than ever and appreciates the continued trust and support of our investors."
See also: Top Web Security Solution Companies
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