A new player has joined the enterprise API security sector with the launch of Noname Security. The company launched with US$25 million in funding from Lightspeed, Insight Partners and Cyberstarts.
Noname describes itself as a holistic security platform that lets enterprises see and secure managed and unmanaged APIs exposed by the organisation, consumed by the organisation or used internally, thereby eliminating the API security blind spots that exist in most businesses today. Digital transformation encourages companies to leverage APIs extensively to grow business and promote innovation. However, many have an underdeveloped API security strategy, which creates a major attack surface.
Noname states that it provides an agentless security platform that gives enterprises a complete view into the activity and threats in their environment. Noname reportedly integrates with existing IT infrastructure and gives businesses visibility, security and control over any API, whether on or off the corporate API gateways.
“Application security has a huge blind spot,” said Oz Golan, CEO and co-founder of Noname. “A leaky API on T-Mobile’s website exposed customer data. The US Postal Service API vulnerability exposed personal information of 60 million users of its online service. The fact you cannot place agents on every application server, and you cannot trust network architecture to funnel all APIs through a single gateway, means we need a new approach. We built Noname to give enterprises complete visibility into all APIs in their environment without requiring an agent or relying on API gateways. We can stop APIs from compromising corporate assets, regardless of whether those APIs are managed by IT or not.”
“Noname’s holistic solution to API security is spot on,” added Joseph Tso, a leading banking CISO. “The breadth and depth of insights provided while being so easy to deploy is magic.”
Founded in 2020, and headquartered in Palo Alto, California, with an office in Tel Aviv, the Noname team is composed of top engineering talent from Israel and experienced Silicon Valley technology leaders. Noname CEO and co-founder Oz Golan was Director of Engineering at NSO. He served with co-founder and CTO Shay Levi in the selective Unit 8200 of the Israeli Defense Forces, whose alumni also founded Check Point, Waze (acquired by Google) and Palo Alto Networks. Gili Raanan, Cyberstarts founder, was the first to partner with Noname, while Guru Chahal, Partner at Lightspeed Venture Partners, and Thomas Krane, Principal at Insight Partners, joined to close the Series A round.
“The exponential growth of APIs introduces risk that most enterprises are not prepared to handle,” said Raanan. “Oz and Shay’s strong vision combined with their decision to blend top Israeli engineering talent with sales and marketing executives from Cylance, Armis and NSO set them up for success.”
“Noname presents a big opportunity to help enterprises navigate the uncharted territory of APIs in their environment,” added Chahal. “We were impressed with how the team has really listened to their customers to deliver what businesses need. Customers especially liked the on-click frictionless deployment for API discovery and stopping unauthorised access to their applications.”
“Our investment in Noname represents Insight’s commitment to partnering with the next generation of Israeli software ScaleUps,” stated Krane. “Noname’s pure-play API security platform delivers on the long-awaited hope for true runtime application security and will enable enterprises to continue their digital transformation without sacrificing security. We are thrilled to partner with Oz, Shay, and the rest of the team to bring the Noname product to the global enterprise community.”