Salt Security reaches $1.4 billion valuation in $140 million Series D
The API security unicorn has registered 500% growth in revenue and 300% growth in its customer base over the past year
Meir Orbach | 16:00 10.02.2022
API security company Salt Security announced on Thursday that it raised $140 million in Series D funding, led by CapitalG, Alphabet’s independent growth fund. The latest investment brings the valuation of Salt Security to $1.4 billion. All the investors who have backed Salt Security in previous rounds also participated in this raise, including Sequoia Capital, Y Combinator, Tenaya Capital, S Capital VC, Advent International, Alkeon Capital, and DFJ Growth. The investment by CapitalG, less than eight months after Salt Security raised its $70 million Series C round, comes as demand for API security surges, with businesses needing to protect the APIs driving their digital transformation, application mobilization, and other IT modernization initiatives. This round brings the company’s total funding to $271 million, with $210 million raised in the last 12 months. Calcalist revealed Salt’s plans for a Series D last December. In the past year, Salt, founded in 2016 by Roey Eliyahu and Michael Nicosia, added a number of leading financial services, insurance, pharmaceutical, eCommerce/retail, and digital services companies to its customer ranks. Recent new customers include Takeda Pharmaceuticals, bp Launchpad (the digital innovation and scale up unit of bp), Markel, Icatu Seguros, Apiture, and Berkshire Bank. In the same period, Salt Security registered 500% growth in revenue, 300% growth in its customer base and 900% growth in signed customers among Fortune 500 and Global 500 companies.