Sqreen Receives $14 Million in Series a Funding by Greylock Partners

Sqreen, an industry first in delivering on Application Security Management, announced on April 2nd, 2019, that it has secured $14 million as a part of Series A funding by Greylock Partners. The other investors are Y Combinator, Alven Capital and Point Nine with Greylock’s partner, Sarah Guo, joining the board.

Sqreen has so far procured $18 million as funding. The company currently serves 500 customers globally, with a modern approach to security for Web and Cloud Hosted Applications. The crux of ASM technology is leveraging upon micro-agents integrated into apps that automatically detect threats and protect applications.

Commenting on the development, Greylock partner Sarah Guo, said, “The state of the art for application security is outdated and complex with approaches that don’t work in production, slow down app development, and are expensive to use and maintain. Today, every company is a software company, and Sqreen supports that by putting a scalable security solution in the hands of developers, operations and security teams.”

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“Just as application performance has become key to every digital business, and APM is embedded in every app that matters, application security will too. Sqreen’s fresh approach is a paradigm shift — a unique platform that eliminates the tradeoff between innovation and security,” she added.

Pierre Betouin, CEO and Co-Founder of Sqreen, formerly the leader of Apple’s security Red Team, said, “Security is a must-have for SaaS and internet companies and organizations of any size that ship software for their business. Security needs to enable developers and the rest of the company. It can’t be a silo that blocks or slows down releases anymore. We bring true collaboration between the developers and security teams.”

Echoing similar sentiments, Jack Eisenberg,  CTO of Swell Investing, an online investing platform and a subsidiary of insurance giant Pacific Life, said, “Security is a core component for us, but I felt like a security beginner. It’s wonderful to work with Sqreen because I get accurate insights about attacks that we’re having and it’s very straightforward to see how we can improve our application’s security. Sqreen was very easy for developers to integrate and for a security product, they have a very good feel for the user experience — it’s pretty snappy. We used Sqreen to quickly set up rules that let us prevent a lot of shenanigans. They’ve been reliable and we haven’t had any hiccups.”

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Sqreen is easy to deploy and does not need any modifications to the code it can be up and running within five minutes. A unique hybrid SaaS architecture ensures simple and instant installation, thanks to microagents, without administrators needing to divert application traffic or installing complex software.

Sqreen leverages dynamic instrumentation logic to detect in-app suspicious activities. Individuals responsible for application security within an organization get unparallel visibility about application safety, down to the code level. Also, the following security features can be enabled in one click:

• Ranging from runtime application self-protection (RASP)
• In-app web application firewall (WAF)
• Account take-over (ATO) protection

Globally, Sqreen’s RASP model is the most popular.

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