Former Australian Prime Minister Malcolm Turnbull has joined the board of directors for cyber security services company Kasada.
Turnbull’s investment company, Turnbull & Partners, also joined in the latest Series B round of funding as Kasada seeks to bolster its sales, marketing and product development capabilities in tandem with expanding its operations into the US.
“The reality is our global economy is digital - it is central to everything we do and hope to achieve. While this shift towards digital presents enormous opportunities and strengths, it also creates vulnerabilities; nobody is immune,” Turnbull said in a statement.
“We are seeing unprecedented scale and rate of compromise as tactics used by malicious actors become more sophisticated. It is not only a security problem but one of economic well-being.
“After meeting with Kasada’s founder and the team, it was clear that Kasada understands this problem but they have designed a pioneering solution that protects the most critical assets of a business.”
Kasada has headquarters in Sydney and 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.
The independent software vendor (ISV) provides strategic cyber protection on a massive scale against attacks on websites, mobile apps, and application programming interfaces (API), including account takeovers, data-scraping and other unwanted automated activities.
Kasada founder Sam Crowther brought the business to life in 2015 and recently secured US$10 million in Series B funding led by US venture capital firm, Ten Eleven Ventures, joining existing investors Main Sequence Ventures and Westpac’s Reinventure.