Prevoty Secures $13 Million in Series B Round Led by Trident Capital Cybersecurity

PRESS RELEASE

LOS ANGELES – December 6, 2017 – Prevoty, the leader in autonomous application protection, today announced that the company has secured $13 million in new financing from the venture capital firm Trident Capital Cybersecurity, naming Managing Director Sean Cunningham to its Board of Directors.  Prior investors including USVP also participated in the funding round.

Prevoty, the company behind the world’s first autonomous application protection technology that enables applications to self-defend from attacks in real-time, is growing at a time of soaring demand for application security solutions. Applications are prime targets for cyberattacks because they handle troves of personally identifiable information, financial information and other critical data. Over the past decade, applications have become the number one attack vector in major breaches.  The company’s solutions are in use by some of the world’s leading companies across all industry verticals.

“Application security is critical in today’s environment of high-growth, customer-facing applications, but it is often the weakest link in a security program,” said Sean Cunningham, Managing Director at Trident Capital Cybersecurity. “Prevoty integrates application security into agile software development practices, enabling developers to deploy applications with inherently more security, reduce risk, and minimize implementation impact. Customers and prospects are validating that Prevoty’s unique approach to application security succeeds at embedding security into DevOps, creating visibility into security weaknesses, allowing teams to remediate underlying issues in real-time production, and accelerating application time to market. We look forward to partnering with Prevoty during this next stage of growth.”

“Prevoty has given us a higher degree of confidence in the security of our application deployments,” said Brian Higdon, Information Security Officer at Freddie Mac. “Prevoty’s Autonomous Application Protection solution has been instrumental in allowing us to implement our DevSecOps program by providing us with a higher degree of confidence in the security of our application deployments,” he added.

Over the past year, Prevoty has achieved major milestones including exponential year-over-year customer growth. The last 12 months were record breaking for the company across revenue, customer acquisition and new innovations delivered to the market. Prevoty is the recipient of many industry awards including the SINET 16 Innovator Award, the Info Security Products Guide Global Excellence Award for Best Web Application Solution, the Most Innovative Security (Software) of the Year and a Companies with Tomorrow’s Technology Today award.

“Prevoty has identified and implemented a unique approach to protecting organizations against advanced application based attacks,” said Steve Krausz, General Partner at USVP. “The team at Prevoty has been redefining the way in which companies protect themselves, their customers and their data in an environment that is growing more challenging by the day.  As organizations fight to deliver value to their customers through their applications, they can rest easy knowing that their software is secure by default and able to protect itself against attacks.”

“This new round of funding from Trident Capital Cybersecurity and USVP will not only help us meet the exponential growth in demand for our autonomous application security solutions, but will also support continued investment in innovation,” said Prevoty Co-Founder and CEO Julien Bellanger. “Our team has developed unrivaled expertise in application security, as well as a customer base of partners who help guide our efforts toward solving their most critical application security challenges. Together, we’re changing application security.”

About Prevoty

Prevoty is dedicated to securing enterprises and the users they serve by automating defense and intelligence in all applications and services. These capabilities enable Global enterprises to dramatically improve remediation of vulnerabilities, enabling security and development teams to work together more effectively, in sync with ever accelerating application release cycles. Prevoty was founded in 2013 and is headquartered in Los Angeles, California. For more information on the company's application security solutions, go to https://www.prevoty.com or follow @Prevoty on Twitter.