Cequence Security Raises $17M in Series B Funding to Accelerate Its Mission to Disrupt the Application Security Market

Led by cyber experts from Palo Alto Networks and Symantec, Cequence
Security protects Fortune 500 enterprises & web-scale companies against
a broad range of automated bot & sophisticated manual attacks targeting
web, mobile, and API assets

SUNNYVALE, Calif.–(BUSINESS WIRE)–Cequence Security, a provider of innovative application security
solutions for today’s hyper-connected enterprises, has secured $17M in
Series B funding, bringing total funding for the company to $30M. The
new round of funding is led by Dell Technologies Capital with additional
participation from Shasta Ventures, which led the previous round of
funding for the company. The new funding will fuel market expansion as
well as continued platform innovations.

Cequence Security is focused on transforming the multi-billion dollar
application security market with an open, container-based software
platform that is easily deployed in the cloud or on premises, and
integrates multiple security services. Each security module leverages
the intelligence and automation of a patented, AI-powered analytics
engine to protect organizations from a broad range of attacks –
including business logic abuse, account fraud, and content scraping –
that compromise the web, mobile, and API application services that
connect their customers, partners, and suppliers.

“In today’s digital economy, Internet-facing applications and APIs are a
prime target for a broad range of sophisticated semantic and syntactic
attacks,” said Larry Link, President and CEO of Cequence Security.
“We’re delighted to have investment partners like Dell Technologies
Capital and Shasta Ventures, who share our vision and mission to deliver
continued innovations that protect the ever-growing number of
hyper-connected organizations against these types of application

“The application security market is certainly ripe for transformation
due to automation of business logic cyberattacks and expanding attack
surface aided by exponentially-increasing usage of IaaS clouds, APIs and
mobile apps. Cequence Security is well positioned to be a major
disruptor,” said Deepak Jeevankumar, Managing Director at Dell
Technologies Capital. “Larry and his team transformed the network
security market by leading the business team at Palo Alto Networks in
the years of hyper-growth. We believe they can do the same to the
application security market.”

Nitin Chopra, a Partner at Shasta Ventures and investor in Cequence
Security echoed that support. “I’ve had the pleasure of working with the
Cequence team for a couple of years. Their passion for security
innovation and commitment to customer satisfaction is evident every
single day. We’re excited about the next phase of the company’s growth.”

Cequence Security, named a 2018 Gartner Cool Vendor, has initially
focused on stopping malicious automated bot attacks, which now account
for nearly one-third of all Internet traffic, and are often undetectable
by traditional security tools. One customer that has deployed the CQ
botDefense solution is Smule, a leading provider of on-line music
applications. “We needed a solution that would integrate into our
environment and block all malicious bot traffic without any collateral
damage to our customers,” said Parker Ranney, VP of Operations at Smule.
“We set the bar high because we owe that to our customers. The Cequence
team worked closely with us to deploy a solution that has accomplished
these security objectives.”

CQ botDefense can be deployed both in private and public clouds, and
supports modern proxies such as Envoy, HA-Proxy, NGINX in addition to
traditional enterprise load balancers.

With the Series B funding, Cequence Security will build on the success
of CQ botDefense and its platform strategy, and will accelerate delivery
of additional security service modules, and expand sales and marketing
reach across the US and selected international markets.

About Dell Technologies Capital

Dell Technologies Capital is the investment arm for Dell Technologies.
We’ve invested in over 100 companies that push the envelope on digital
technology for enterprises and consumers. We are a team of world-class
investors who help our companies succeed. We focus on early-stage
investments with passionate founders. Our companies gain unique access
to the go-to-market capabilities of Dell Technologies (Dell EMC, RSA,
VMWare, Pivotal, Virtustream, Secureworks). Headquartered in Palo Alto,
Calif., Dell Technologies Capital has offices in Boston, Austin, and
Israel. For more information visit www.delltechcapital.com.

About Shasta Ventures

Shasta Ventures is a leading early-stage venture capital firm partnering
with bold, creative entrepreneurs who are passionate about building epic
products and amazing experiences. Founded in 2004, Shasta has more than
$1 billion under management investing in enterprise and consumer
companies with a deep focus on emerging platforms. To combat security
threats on today’s computing architectures, Shasta backs world-class
teams building breakout products and technologies in each sub-segment of
security. Shasta has invested in more than 100 companies
including Anaplan, Apptio, Dollar Shave Club, Mint, Nest, Zuora and many
promising private companies such as Deep Sentinel, Leanplum, Nextdoor,
Smule, Turo and Valimail. www.shastaventures.com

About Cequence Security

Cequence Security delivers a game-changing application security platform
for today’s hyper-connected organizations that rely on web, mobile, and
API application services to support business processes and enable
customer engagements. The platform leverages an AI-powered analytics
engine to consolidate multiple functions that strengthen the security
posture of these organizations against a broad range of application
attacks. The automation within the analytics engine also improves the
productivity and efficiency of IT resources. Cequence’s management team
includes Larry Link, CEO, Ameya Talwalkar, CPO and Shreyans Mehta, CTO.
Larry led the worldwide sales team for Palo Alto Networks from 2007 to
2012. Ameya and Shreyans led the development of Symantec’s anti-malware
platform. The company is venture-backed and headquartered in Sunnyvale,
CA. Learn more at www.cequence.ai.


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Dan Chmielewski
Madison Alexander PR
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