Central regions | Finance, business | Technology & innovation
IT security developer raises international investment
15 Nov '18
Wallarm, a San Francisco based start-up of Russian origin, has raised $8m from an international investor consortium, Vc.ru reported. Wallarm is focused on security solutions for websites, apps and APIs that operate in private or public clouds.
It’s Toba Capital that led this new investment round; other investors included Y Combinator, Partech and Gagarin Capital (which once invested in Prisma and MSQRD). Wallarm’s valuation has yet to be disclosed.
In its previous round, the company raised $2.3m from Prisma investors and Y Combinator partners.
The team wants to funnel the money into the development of its FAST (Framework for Application Security Testing) platform and into cyber-security related R&D.
“The investment will be used to enhance marketing and sales in the U.S.; this is our main goal. We will also step up support of FAST as our new product,” Wallarm CEO Ivan Novikov said.
FAST is a tool for testing engineers and developers which helps use regular traffic on apps and APIs as tester for security issues. Users can set policies for their apps.