US-based cybersecurity technology developer Shape Security has raised $25m in a series D round backed by GV, the corporate venturing unit formerly known as Google Ventures.
The round, co-led by Baseline Ventures, Northern Light and Epic Ventures, also included existing backers Kleiner Perkins Caufield & Byers (KPCB), Venrock, Norwest Venture Partners and Tomorrow Ventures.
Shape Security’s Shape Botwall Service works to stop automated web and mobile app attacks, protecting accounts for businesses spanning the financial services, airline, retail and government sectors. It intends to use China-based Northern Light’s help in expanding internationally.
The company has now raised $91m altogether, with GV, then known as Google Ventures, investing as part of a $5.8m series A round in 2012 along with KPCB, Tomorrow Ventures, Baseline Ventures and several angel investors.
Google Ventures subsequently contributed to Shape’s $20m series B round in 2013 and its $40m series C the following year. GV now acts as a corporate venturing subsidiary of internet and technology conglomerate Alphabet.
Derek Smith, Shape Security’s CEO, said: “We have grown tremendously in the last year, adding customers in new industries, and demonstrating that a platform for comprehensive protection against automated attacks is the most important missing piece of security for the world’s largest companies.
“Attackers are constantly evolving, but we are able to stay ahead of them successfully. Our new funding will allow us to take our proven approach and scale it to other major markets around the world.”