US-based cybersecurity software provider Shape Security has completed a $26m funding round that included JetBlue Technology Ventures and Singtel Innov8, subsidiaries of airline operator JetBlue and telecoms firm Singapore Telecommunications.
The round was led by venture capital firm Norwest Venture Partners and included Kleiner Perkins, Venrock, Baseline Ventures, Allegis Capital, Focus Ventures, Epic Ventures, Raging Capital and Tomorrow Ventures. It valued Shape at $495m, according to Pitchbook Data.
Shape has created an anti-automation and bot mitigation software platform that prevents cyber attacks using stolen usernames and passwords or fake accounts set up by bots with unauthorised aggregation. It will channel the funding towards international growth.
Eash Sundaram, chief digital and technology officer for JetBlue, said: “The safety and security of our customers, in all aspects, is JetBlue’s top priority.
“Shape has proven to be a very impactful partner for us as we protect our customers online. We are excited for JetBlue Technology Ventures’ investment to expand our relationship with Shape as we work together to improve our customers’ experience.”
The round took Shape’s total funding to $132m. It received $5.8m in a 2012 series A round featuring GV, the subsidiary of internet and technology group Alphabet that used to be called Google Ventures, as well as Kleiner Perkins – then still Kleiner Perkins Caufield & Byers – Tomorrow Ventures and Baseline Ventures.
The company added $20m in a 2013 series B round and $40m in a 2014 series C, both of which included GV, before closing a $40m series D in September 2016 featuring GV and Hewlett Packard Pathfinder, a vehicle for IT technology provider Hewlett Packard Enterprise.
Norwest Venture Partners, Kleiner Perkins Caufield & Byers, Baseline Ventures, Venrock, Northern Light Ventures, Epic Ventures, Tomorrow Ventures, EDBI and Eric Schmidt also contributed to the 2016 round.
