Cequence Security offers a platform for enterprises to safeguard their APIs and web applications from bot attacks by detecting and mitigating them in real-time. The platform also provides protection against account takeover, unauthorized data access, fraudulent transactions, and fake account creation. The company uses its proprietary CQAI analytics engine that leverages artificial intelligence, machine learning, and behavioral analysis to detect malicious traffic and bot attacks.
As of June 2021, the company has also partnered with AWS, Fastly, Gigamon, and Okta to enhance its product offerings. These deals allow Cequence to bundle offer API and web application security alongside its partners’ products.
Following the Covid-19 pandemic in 2020, the company recorded a growth of 2.5x and claims to have recorded a “pretty high ARR” in 2020. As of December 2021, the company doubled its customer base year-over-year (YoY), and served more than 85 global brands including several Fortune 100 and 500 companies such as T-Mobile, Estée Laude, and American Express. The company also had an employee headcount of over 100, which it intends to expand to over 250 by 2022.
In December 2021, the company raised USD 60 million in a Series C funding round led by Menlo Ventures. The company expected to utilize the funds to expand its product features, product portfolio (with plans to launch a new self-service subscription solution in 2022), team, co-marketing activities, and global presence in the US, Europe, Asia, and Australia.
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