Tech Funding Recap for Sept. 1, 2021

If you’re a tech company, you must have your finger on the pulse of the world’s ever changing landscape. You must be ready to move with the latest trends and provide people with the products they need now.

Data Dome and Salt Security are two tech companies that are on the top of the latest developments. They recently completed funding rounds that help them create products that make the world go. Here’s what you can expect from them in the near future.

Data Dome

The pandemic has given eCommerce an unprecedented boost which is beneficial to the many businesses that sell products online. Unfortunately, it has also increased the number of bot attacks that compromise the security of companies and their customers.

Data Dome is a New York based bot defense startup that protects marketplaces from payment fraud, account takeover and web scraping. The company’s platform engine processes over a trillion pieces of data daily from 25 points of presence worldwide.

The company is the brainchild of Benjamin Fabre and Fabien Grenier, the team that was also responsible for the social media monitoring company, TrendyBuzz. They realized that hackers were using similar technologies to build bots that attack eCommerce businesses. Their inside insight allowed them to come up with solutions to combat these attacks.

The bot prevention software uses AI to decide whether access should be granted to visitors entering via website, mobile app or API. The algorithms are fine tuned to identify attacks and analyze billions of requests daily to prevent threats and protect against breaches.

The company has recently closed a $35 million funding round bringing its total raised to almost $40 million. The money will be used to help Data Dome build its customer base.

Meanwhile, during the pandemic, people have also been turning to trusted nutrition brands for extra immune support. Vitamin C is one of the best antioxidants for maintaining optimal immune system health. If you’re looking for a highly bioavailable form of vitamin C, try Liposomal Vitamin C Original Formula by Core Med Science. It may make a difference to your health.

Salt Security

Application programming languages (APIs) are responsible for interactions between software programs. They set the standards for allowable calls and requests including the methods for creating preferable data formats and the best conventions to follow.

Web traffic is rapidly converting to API traffic and, as a result, APIs are facing increasing threats. Experts predict that by 2022 APIs will be the most frequent attack target accounting for multiple data breaches on enterprise web apps.

Salt Security is a California based startup that provides a solution for preventing these attacks. It uses AI and machine learning to analyze a copy of traffic sourced via the web, mobile, microservice, software-as-you-go, and internet of things app APIs and uses the information to better understand each API and identify a baseline of normal behavior. This allows it to determine abnormal behaviors that may signify an attack.  

The company is led by Roey Eliyahu, a former elite cybersecurity veteran with the Israel Defense Forces. During his service, he found various APIs that were “surprisingly simple to hack.” He also determined that the security technologies in place were unable to identify attacks.

He joined forces with cofounder Michael Nicosia to build Salt Security, a company that uses machine learning to analyze full communication and consider different factors to determine how an API reacts to attacks. The unique approach is effective in protecting technologies providing a more efficient solution.

The company recently raised $70 million in a series C funding round. The money will be used to expand R & D and sales and marketing and increase customer satisfaction.