“Shape has the opportunity to be one of the most disruptive companies the security industry has seen since the early days of anti-virustechnology,” said Schlein. “Led by a seasoned executive team which I have partnered with successfully before, Shape is developing innovations in cyber-security that will deeply impact how e-commerce and social network websites protect themselves and their users.”
According to technology market research firm The Radicati Group, the corporate web security market is expected to grow to $2.5 billion by 2016. Businesses and consumers are under constant attack by botnets which traditional security architectures are no longer able to defend against.
“Shape’s technology will shift the burden of attack from defenders to attackers,” said Derek Smith, Shape Security CEO. “In doing so, Shape is aiming at the economics of web hacking and forcing attackers to spend more and more to achieve less and less.”
“Cyber attacks are constantly evolving and highly persistent,” said former Vodafone UK CTO Chris Burke, an investor in this round. “Relying solely on signature or reputation-based security tools leaves websites and their users vulnerable to malicious activity and data theft. Shape’s technology will soon become a minimum requirement for the enterprise.”
About Shape Security
Based in Mountain View, CA, Shape Security is a start-up developing a new category of web defense products. Shape’s founders come from Google, the Department of Defense and major defense contractors. The company’s patent-pending technology will provide customers with a fundamentally different approach to protecting e-commerce and social network websites.