42Crunch, a global leader in API security, announced today that it secured $17 million in Series A funding led by Energy Impact Partners and with participation from Adara Ventures. We initially backed this exceptional team at the seed stage just 11 months ago, and we are delighted to support them again in their Series A round.
APIs will become the #1 attack vector of cyberattacks by 2022 (Source: Gartner), yet many companies still lack API-specific security measures. 42Crunch is helping companies secure their API ecosystems by bridging the gap between API development and security teams with a simple, automated platform that provides auditing, live endpoint scanning, and micro API firewall protection.
“What do the recent data breaches at Facebook, MGM Grand and Clubhouse have in common? They all came about due to API vulnerabilities,” said CEO and Co-Founder of 42Crunch, Jacques Declas. “83% of internet traffic now comes from APIs but traditional firewall approaches are not adapted to cope with the specific threats that APIs create.”
As Isabelle Mauny, 42Crunch CTO, explains, “The cost of fixing security flaws at production time is a major issue for enterprises. Our mission is to make API threat protection as agile and automated as development. The overwhelming success of our platform plugins, which have now been installed by 200K developers, is proof that security can truly become part of the whole API lifecycle, provided developers are equipped with the right tools.”
In just 11 months since our seed investment, the London-based startup has secured numerous Fortune 500 customers across a variety of industries (financial, automotive, and insurance), and established partnerships with leading companies such as Mulesoft and Qualys.
42Crunch plans to use the new funding to further accelerate product innovation and its expansion across the US, APAC and Europe.
With 83% of all internet traffic now occurring via API and data leaks on the rise from faulty API security, the need for API-focused security solutions has never been greater. That’s why we are passionate about supporting 42Crunch as they continue pioneering a movement that seeks to make security a key part of the development lifecycle. We believe strongly in 42Crunch’s ability to deliver API security at scale and congratulate the team on their remarkable journey and achievements so far.
42Crunch bridges the gap between API development and security teams with a simple, automated platform that provides auditing, live endpoint scanning, and micro API firewall protection. Unlike other solutions on the market, the 42Crunch platform empowers development, security and operations teams with a set of integrated tools to easily build security into the foundation of the API and enforce those policies throughout the API lifecycle. By delivering security as code you enable a seamless DevSecOps experience, allowing innovation at the speed of business without sacrificing integrity. Visit 42crunch.com to learn more. Visit the online community at APIsecurity.io.