Israeli-founded startup Noname Security, a cybersecurity company specializing in API (application programming interface) protection, said on Wednesday that it nabbed a new $135 million investment at a valuation of $1 billion, making it the newest Israeli unicorn company.
Noname Security joined at least 33 other Israeli companies in the unicorn club, companies valued at over $1 billion, in 2021. This past year has seen record funding for Israeli companies, driven by massive investments in cybersecurity, fintech, and enterprise IT and data firms.
Headquartered in Palo Alto, California, Noname was founded in 2020 by entrepreneurs Oz Golan, who is the CEO, and Shai Levy, Vice President of Technology. The startup developed a security platform that it says helps protect enterprises from data leakage, authorization issues and data corruption. Noname says it works with a number of Fortune 500 companies and its platform blocks over 1,000 attacks per day.
The funding round was led by Canadian fintech company Georgian and US venture capital firm Lightspeed Venture Partners, with participation from Insight Partners, Cyberstarts, Next47, Forgepoint and The Syndicate Group (TSG).
This investment will fund recruitment for Noname Security’s sales and R&D teams, the company said.
“Enterprises across all industries are experiencing widespread digitization, accelerating the adoption of thousands of new APIs and the critical need to secure them for businesses on a global scale,” said Golan in a statement Wednesday. “With the backing of Georgian, along with our existing investors, we will continue to expand our industry-leading technology to help our customers mitigate the risk of deploying APIs.”
Michael Robinson, lead investor at Georgian, said the investment was “a testament to the extraordinary opportunity we see for Noname Security to shape the future of API security, a critical component of digital transformation.”
The funding brings Noname’s total capital raised to date to over $220 million. The company last raised $60 million in June, preceded by a $25 million round last December led by Lightspeed.