Fast Growing Kasada Announces Continued Momentum for Online Traffic Integrity Solution that Detects and Defends Against Bot Attacks

Malcolm Turnbulls investment company, Turnbull & Partners, also joined in the latest Series B round of funding.

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Tuesday, October 27, 2020
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Software, Networks, Internet, Data management, Technology, Online Retail, Retail, Security, Government of Australia, Abbott Government, Malcolm Turnbull, Republic Advisory Committee, Turnbull Government, Advisory board, Australia
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United States, NEW YORK
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KASADA
Summary
Key Points: 
  • Malcolm Turnbulls investment company, Turnbull & Partners, also joined in the latest Series B round of funding.
  • The company also announced it expanded its advisory board to include the following:
    In August, Kasada was recognized by CB Insights as a 2020 Cyber Defender .
  • Kasada provides the only online traffic integrity solution that accurately detects and defends against bot attacks across web, mobile, and API channels.
  • With the ability to onboard in minutes, Kasada ensures immediate and long-lasting protection while empowering enterprises with optimal online activity.


Kasada, provider of the only online traffic integrity solution that accurately detects and defends against bot attacks, today announced its Q1-Q3 highlights and continued momentum for 2020. Founded by 25-year-old Sam Crowther, Kasada is redefining the cybersecurity industry with its innovative approach to stopping malicious automation.

According to Pascal Podvin, CEO, “This year we set out to fuel our rapid U.S. expansion and new product development. This led to our Series B funding round, significant customer growth, and office expansion. The market’s response has been overwhelmingly positive. Also in 2020, we added a variety of experienced executives and advisors, including industry renowned players. To top it off, in the coming weeks, we will be making an exciting announcement that will expand our capabilities to API threat protection.”

Growth

This year, the company expanded to the U.S. and grew its Q1 to Q3 revenue by 101%, over 2019, in spite of COVID-19 challenges across all sectors of the economy. With its installed base of customers, the company grew its revenue from Q1 to Q3 2020 in-excess of 150%, when compared to the same period in 2019, with 100% customer loyalty. Kasada also doubled its global staffing, with significant growth in both its Sydney and New York headquarters.

Funding

Kasada recently raised $10 million in second round funding, led by cybersecurity venture capital specialist Ten Eleven Ventures, and joined by existing investors Main Sequence Ventures and Westpac's venture capital arm, Reinventure. The New York and Sydney-based company plans to use the proceeds to fuel its continued rapid U.S. expansion and new product development. Previously, the company closed $7 million including funding by In-Q-Tel, Inc.

Strengthened Executive Team

Earlier this year, the company announced other major additions, including the following:

Australian Prime Minister Joins Board of Directors

Former Australian Prime Minister Malcolm Turnbull joined Kasada’s board of directors earlier this year. During his tenure as Prime Minister, Malcolm set the course for Australia's high rankings in cybersecurity. Malcolm Turnbull’s investment company, Turnbull & Partners, also joined in the latest Series B round of funding.

Expanded Company's Advisory Board

The company also announced it expanded its advisory board to include the following:

  • Arnold Blinn, Chief Technology Officer at LegalShield
  • Benjamin Vaughn, Vice President and Chief Information Security Officer at Hyatt
  • Sabrina Horn, author, thought leader and market strategist for the technology industry

Awards

In August, Kasada was recognized by CB Insights as a 2020 Cyber Defender. Kasada was one of 28 early- to mid-stage, high-momentum startups to make the list, each of which has pioneered technology with the potential to shape the future of cybersecurity.

Also in August, Kasada was recognized by Information Services Group in its 2020 ISG Provider Lens™ Cyber Security – Solutions & Services Report as a Rising Star with a “promising portfolio” and “high future potential.”

About Kasada

Kasada provides the only online traffic integrity solution that accurately detects and defends against bot attacks across web, mobile, and API channels. With Kasada, internet control and safety is given back to human beings by foiling even the stealthiest cyber threats, from credential abuse to data scraping. The solution invisibly stops automated threats while inflicting financial damage to attackers, destroying their ROI. With the ability to onboard in minutes, Kasada ensures immediate and long-lasting protection while empowering enterprises with optimal online activity. Kasada is based in New York and Sydney, with offices in Melbourne, San Francisco, and London. For more information, please visit www.kasada.io and follow on Twitter, LinkedIn, and Facebook.

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Copyright Business Wire 2020