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

1/13/2016
02:40 PM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Shape Security Secures $25M Series D for Intermational Growth

Service 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
I 'Hacked' My Accounts Using My Mobile Number: Here's What I Learned
Nicole Sette, Director in the Cyber Risk practice of Kroll, a division of Duff & Phelps,  11/19/2019
DevSecOps: The Answer to the Cloud Security Skills Gap
Lamont Orange, Chief Information Security Officer at Netskope,  11/15/2019
Attackers' Costs Increasing as Businesses Focus on Security
Robert Lemos, Contributing Writer,  11/15/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
Navigating the Deluge of Security Data
In this Tech Digest, Dark Reading shares the experiences of some top security practitioners as they navigate volumes of security data. We examine some examples of how enterprises can cull this data to find the clues they need.
Flash Poll
Rethinking Enterprise Data Defense
Rethinking Enterprise Data Defense
Frustrated with recurring intrusions and breaches, cybersecurity professionals are questioning some of the industrys conventional wisdom. Heres a look at what theyre thinking about.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-13157
PUBLISHED: 2019-11-22
nsGreen.dll in Naver Vaccine 2.1.4 allows remote attackers to overwrite arbitary files via directory traversal sequences in a filename within nsz archive.
CVE-2012-2079
PUBLISHED: 2019-11-22
A cross-site request forgery (CSRF) vulnerability in the Activity module 6.x-1.x for Drupal.
CVE-2019-11325
PUBLISHED: 2019-11-21
An issue was discovered in Symfony before 4.2.12 and 4.3.x before 4.3.8. The VarExport component incorrectly escapes strings, allowing some specially crafted ones to escalate to execution of arbitrary PHP code. This is related to symfony/var-exporter.
CVE-2019-18887
PUBLISHED: 2019-11-21
An issue was discovered in Symfony 2.8.0 through 2.8.50, 3.4.0 through 3.4.34, 4.2.0 through 4.2.11, and 4.3.0 through 4.3.7. The UriSigner was subject to timing attacks. This is related to symfony/http-kernel.
CVE-2019-18888
PUBLISHED: 2019-11-21
An issue was discovered in Symfony 2.8.0 through 2.8.50, 3.4.0 through 3.4.34, 4.2.0 through 4.2.11, and 4.3.0 through 4.3.7. If an application passes unvalidated user input as the file for which MIME type validation should occur, then arbitrary arguments are passed to the underlying file command. T...