Cybersecurity company Salt Security raises $20 million

Tel Aviv and Palo Alto-based Salt Security Inc. has raised a $20 million series A funding round, the company announced Tuesday. The round was led by Tenaya Capital, with participation from existing investors Israel-based S Capital and Check Point Software Technologies Ltd. co-founder Marius Nacht. To date, the company has raised a total of $30 million in equity financing.

The company intends to use the funds to continue investing in product development and innovation, address new use cases, and expand its sales and marketing efforts. The company currently employs a team of 30 people, but intends to grow to 50 employees by the end of the year, Roey Eliyahu, the company’s co-founder and CEO said in a Tuesday interview with Calcalist. Founded in 2016 by Michael Nicosia and Eliyahu, Salt Security uses artificial intelligence algorithms to develops protection tools for application programming interfaces (API). The company's customers include marketing analytics and attribution company AppsFlyer Ltd., Israeli IoT security company Armis Inc., and corporate travel company TripActions Inc.

“Salt Security prevents attacks that are impossible to detect with traditional security point-products,” Eliyahu explained. “We are the only vendor in the space that can protect against all threats listed on the Open Web Application Security Project (OWASP) API Security Top 10 in addition to other increasing API-related security risks,” he said.

“Our customers hail from almost every field, and from every company size,” Eliyahu said.