Today we announced a $2.5 million capital raising from two of Australia’s leading venture firms Our Innovation Fund, LP and the Reinventure Group.
Kasada will use the money to extend its US footprint, bolster market relationships and continue upgrades to Polyform, its innovative real-time bot detection and mitigation platform for websites and web applications.
Kasada Polyform detects and mitigates malicious web traffic that other security platforms are unable to identify. The platform protects websites and web applications in real-time from user account takeovers, click fraud, data-scraping attacks and other attacks that significantly disrupt user experience of websites. Kasada Polyform also reduces bot-related network bandwidth and computing infrastructure costs, and improves the effectiveness of digital marketing.
David Shein, one of Australia’s leading entrepreneurs and a founder and general partner of Our Innovation Fund, LP that led the investment, will join Kasada’s board of directors. Our Innovation Fund, LP brings a depth of market knowledge and expertise in building and scaling global technology companies as well as a strong network of value-adding minds across technology and business-building fronts.
“Sam Crowther, Kasada’s founder and CEO, is an exceptional talent and we’re thrilled to be partnering with him and the Kasada team,” Mr Shein said. “Kasada is redefining how enterprises protect themselves against the wide range of cyber threats.
“In addition to enhanced security, Kasada also provides customers with an immediate return on investment through reduced infrastructure costs and improved marketing feedback. Traditional web application security products fail to stay ahead of attackers because they struggle to distinguish legitimate users from adversaries. We’re excited to be working with Kasada to make enterprises safer, and take this Australian solution to the world.”
Danny Gilligan, Co-founder and Managing Director at Reinventure Group, will also advise the Kasada board. Reinventure is known for its ability to create high-functioning partnerships, between large corporates and innovative start-ups, and deep expertise in the emerging data economy.
“As the nascent data economy develops, companies are faced with the twin pressures of increasing the use of digital assets, while meeting security and governance obligations. Kasada plays perfectly at the intersection of the trend, materially enhancing perimeter security while protecting data assets from unauthorised access,” Mr Gilligan said.
