Security News > 2021 > June > ThreatX raises $10M to strengthen its position in the web application security market

Existing investors, Access Venture Partners and Grotech Ventures, also participated in the round, providing ThreatX with capital to continue strengthening its dominant position in the next-generation web application security market.

Strengthen its fully-managed WAAP services team to offer clients the application security expertise necessary to combat adversaries.

"Any downtime or data loss experienced as a result of an attack can be crippling to a company's bottom line and reputation. ThreatX has redefined a market originally built to address simple and predictable threats. Uniquely architected to block modern attacks based on adversary behavior, the ThreatX platform protects against a multitude of application security challenges and provides full-lifecycle, real-time coverage. We are proud to be a catalyst to help fuel ThreatX's continued success."

"We are bullish about our next phase of growth, made possible through the support of new and existing investors. This funding is a testament to ThreatX's consistent track record of innovation and dedication to our customers," said Gene Fay, CEO, ThreatX. "The ThreatX WAAP platform combines dynamic web application and API security into a single platform, providing actionable insights to reduce vulnerabilities and prevent future attacks."

According to Gartner, "By 2023, more than 30% of public-facing web applications and APIs will be protected by cloud web application and API protection services, which combine distributed denial of service protection, bot mitigation, API protection and WAFs. This is an increase from fewer than 15% today."

ThreatX is poised to take advantage of this massive market opportunity.

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