API Security Pioneer L7 Defense raises $4 Million in Series A Funding from TRUMPF Venture and Quick Heal Technologies
L7 Defense intends to extend its technological leadership and expand its business in the global market
L7 Defense, a leading cyber security technology pioneer and the provider of the award-winning Ammune enterprise-grade API (application programming interface) security solution, announced that it has successfully completed a financing round of $4 million, led by Germany-based TRUMPF Venture with participation from India-based Quick Heal technologies. The funds will be used to solidify its technological leadership, boost its marketing and business development activities, and extend its market reach.
API-centric architectures have become standard in modern IT systems, providing easy access to valuable data and capabilities. Although this unlocks tremendous value to interconnected ecosystems, it also opens-up a new cyberattack vector, yet not sufficiently protected by traditional mechanisms. APIs require an updated AI-based security paradigm, which is mostly free of writing or maintaining API specific policies, while safely protecting it from a full range of cyber-attacks. “L7 Defense’s solution truly disrupts the way APIs are protected,” said Dr. Doron Chema, L7 Defense Co-founder and CEO. “Our Ammune platform presents a significant breakthrough at AI/ML-based cyber security, which enable meeting these demands while protecting APIs’ traffic at scale.”
“This funding round will enable us to further extend our technological leadership, to increase our international exposure and gain further market awareness. We are thrilled and energized to have the support of TRUMPF Venture and Quick Heal technologies and are delighted to welcome them to the L7 Defense family,” said Yisrael Gross, L7 Defense co-founder and VP Business Development. “This vote of confidence reinforces our resolve and motivation to become the API security leader in this extremely dynamic market.”
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“We are excited to join the L7 Defense board and support the company’s international expansion,” said Dieter Kraft, Managing Director of TRUMPF Venture. “API security becomes critical for all major industries, including the financial, infrastructure and energy sectors, but also the industrial production that sees increasing adoption of smart factories. L7 Defense represents for us a unique combination of leading technology, a most favorable market, and a focused technology-leading management team. We have the highest confidence in the company’s ability to become the ultimate leader in the API security domain.”
Dr. Kailash Katkar, Managing Director and Chief Executive Officer, Quick Heal Technologies, said, “At Quick Heal Technologies, we are always on the lookout for right investment opportunities by evaluating new platforms and technologies that enable us to support the digital transformation journey of our customers. We have been very pleased with the performance of L7 Defense since our first investment. The company has proven its unique capabilities in the area of API Security and NG-WAF which led us to further increase our investment.”