Australia-founded web security start-up Kasada has raised $14 million to continue its ongoing expansion into the United States.
The independent software vendor (ISV) raised the funds -- valued US$10 million -- as part of a series B raise led by Ten Eleven Ventures.
Founded in Sydney in 2015 by Sam Crowther, Kasada provides software to protect sites from bots attempting user account takeovers, fraud, data scraping and other disruptive attacks.
It opened its headquarters in New York last year under the leadership of CEO Pascal Podvin and, according to the company, grew its revenue by 200 per cent in the first US quarter despite the COVID-19 pandemic.
According to Kasada, the funding will allow them to continue this expansion by allowing it to build out its sales and marketing organisation and invest in new product development.
“Today, as online business increasingly becomes the main or even the only viable channel, there is an attendant surge in scraping and other automated and often undetected attacks that target the most strategic and vital issues facing companies—from their competitiveness and stock value, to their brand and their ability to understand their customer segments,” said Podvin.
“Defending against scraping and the damage it inflicts should be on the agenda of every C-level business executive and every boardroom.”