Source Defense Raises $27M in Series B Funding

Source Defense

Source Defense, a Rosh Ha’ayin, Israel- and New Haven, Conn.-based web application client-side protection company, raised $27m in Series B funding.

The round is led by new investor Springtide Ventures with all existing investors also participating, including Jerusalem Venture Partners (JVP), AllegisCyber Capital, Global Brain, Connecticut Innovations, Inc., NightDragon, LLC, and Capital One Ventures. Karel Tusek (CTO of Springtide Ventures) will join the Source Defense Board of Directors.

The company plans to use the funds to accelerate its growth plans, including investments into Sales, Marketing, Alliances, Research and Development, and Sales.

Led by Dan Dinnar, CEO, Source Defense is a security and compliance platform for any website that collects sensitive data or is transaction-oriented. Source Defense addresses the common gap in managing third-party digital supply chain risks. It uses a zero trust model to extend security beyond the network and onto the client-side. Source Defense is the market leader in web-application client-side protection. It provides real-time threat detection and protection as well as prevention of vulnerabilities originating from JavaScript. Source Defense Platform is a unique solution that addresses threats and risks caused by JavaScript, third-party vendors and open-source code. It protects top organizations in many verticals such as healthcare, financial services, retail and hospitality. It offers cybersecurity prevention capability and compliance (e.g. PCI, HIPAA and GDPR) as well as greater flexibility for developers and marketing teams.

The company currently protects nearly a billion monthly site visits and defends transactions for some of the world’s largest businesses, preventing approximately 6 billion quarterly violations of security and compliance policies from occurring in the process.

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