Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Mobile

1/29/2016
12:00 PM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Shape Security Raises $25M to Fuel International Growth; Now Protects Web and Mobile Apps of Many Fortune 100 Companies

MOUNTAIN VIEW, CA--(Marketwired - Jan 13, 2016) - Shape Security today announced it raised $25M in Series D funding to accelerate deployments of the Shape Botwall Service with customers across the globe. With this funding, Shape has raised $91M in total and now counts many of the largest enterprises in the world as customers. Beijing-based Northern Light Venture Capital joined the round to assist Shape with expansion into China.

"There is a highly increasing demand in China's e-commerce market for bot detection and corresponding services," said Feng Deng, founder of Northern Light Venture Capital and previously the founder of Netscreen (acquired by Juniper). "We invested in Shape because we believe the botwall product and service could be an excellent complementary solution together with products from other network and endpoint security vendors."

Lead investor in the round Baseline Ventures, Northern Light and Epic Ventures join existing investors Kleiner Perkins Caufield & Byers, Venrock, Norwest Venture Partners, Google Ventures, Eric Schmidt's Tomorrow Ventures and other prominent investors in this round.

"I've been impressed with the Shape team for a long time," said Steve Anderson of Baseline Ventures, whose track record of successful investments includes Twitter, Instagram, and others. "Our discussions with Shape's customers, who are among the largest enterprises in the world, revealed an unprecedented level of efficacy against attacks that were getting through all other security products."

Shape is addressing the most expensive and fastest growing issues in security
Shape's customers include top global airlines, top US banks, top insurers, major federal government agencies, and several of the largest retailers in the world. Shape's technology protects their web and mobile apps against attacks, like account takeover, that are enabled by botnets and other forms of automation. These automated attacks are growing rapidly, now accounting for more than half of all traffic to the login pages of major websites, and bypass products that most enterprise use, like WAFs, DDoS and fraud controls, and IDS/IPS.

"Cycling through user IDs and passwords at various websites, such as online banking or credit card portals... these massive automated account takeover attacks have become much more sophisticated and have escalated substantially, according to our clients, with big pickups in such attacks during and right after the 2014 holiday season," wrote Avivah Litan, VP Distinguished Analyst at Gartner. "Some report that such scripted attacks against large online sites doubled in the first two months of 2015."1

Mobile product a powerful extension of the platform
The Shape Botwall Service for Mobile is also now widely deployed, protecting more than 10 million users who regularly make mobile payments. The flagship customer for Shape's mobile API protection product has one of the top 5 largest mobile commerce apps in the world.

"We have grown tremendously in the last year, adding customers in new industries, and demonstrating that a platform for comprehensive protection against automated attacks is the most important missing piece of security for the world's largest companies," said Derek Smith, CEO of Shape Security. "Attackers are constantly evolving, but we are able to stay ahead of them successfully. Our new funding will allow us to take our proven approach and scale it to other major markets around the world."

About Shape Security 
Shape Security stops automated web and mobile application attacks, like credential stuffing, content scraping, and application-layer DDoS, that bypass existing defenses. The Shape Botwall Service, available in the cloud or on-premises, protects more than 350M accounts on behalf of Fortune 500 organizations. Invisible to people but impenetrable to bots, Shape protects the world's largest banks, airlines, retailers and government agencies. Shape Security is headquartered in Silicon Valley and backed by Kleiner Perkins Caufield & Byers, Norwest Venture Partners, Venrock, Baseline Ventures, Google Ventures, and host of other prominent investors.

1Gartner, "Best Practices and Success Stories for User Behavior Analytics", Avivah Litan, March 4, 2015.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
COVID-19: Latest Security News & Commentary
Dark Reading Staff 6/5/2020
How AI and Automation Can Help Bridge the Cybersecurity Talent Gap
Peter Barker, Chief Product Officer at ForgeRock,  6/1/2020
Cybersecurity Spending Hits 'Temporary Pause' Amid Pandemic
Kelly Jackson Higgins, Executive Editor at Dark Reading,  6/2/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: What? IT said I needed virus protection!
Current Issue
How Cybersecurity Incident Response Programs Work (and Why Some Don't)
This Tech Digest takes a look at the vital role cybersecurity incident response (IR) plays in managing cyber-risk within organizations. Download the Tech Digest today to find out how well-planned IR programs can detect intrusions, contain breaches, and help an organization restore normal operations.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-13864
PUBLISHED: 2020-06-05
The Elementor Page Builder plugin before 2.9.9 for WordPress suffers from a stored XSS vulnerability. An author user can create posts that result in a stored XSS by using a crafted payload in custom links.
CVE-2020-13865
PUBLISHED: 2020-06-05
The Elementor Page Builder plugin before 2.9.9 for WordPress suffers from multiple stored XSS vulnerabilities. An author user can create posts that result in stored XSS vulnerabilities, by using a crafted link in the custom URL or by applying custom attributes.
CVE-2020-11696
PUBLISHED: 2020-06-05
In Combodo iTop a menu shortcut name can be exploited with a stored XSS payload. This is fixed in all iTop packages (community, essential, professional) in version 2.7.0 and iTop essential and iTop professional in version 2.6.4.
CVE-2020-11697
PUBLISHED: 2020-06-05
In Combodo iTop, dashboard ids can be exploited with a reflective XSS payload. This is fixed in all iTop packages (community, essential, professional) for version 2.7.0 and in iTop essential and iTop professional packages for version 2.6.4.
CVE-2020-13646
PUBLISHED: 2020-06-05
In the cheetah free wifi 5.1 driver file liebaonat.sys, local users are allowed to cause a denial of service (BSOD) or other unknown impact due to failure to verify the value of a specific IOCTL.