Cequence Security Valuation, Funding & Investors
Cequence Security is valued at $85M as of February 2019.
Last Cequence Security valuation
$85M
Series B · Feb 2019
Last Cequence Security funding round
$60M
Series C · Dec 2021
Cumulative funding Cequence Security raised
$102M
across 5 funding rounds
Key investors in Cequence Security
Shasta Ventures
Dell Technologies Capital
T-Mobile Ventures
Menlo Ventures
Titanium Ventures
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Kevin Mahaffey
About Cequence Security
Cequence Security is a Santa Clara-headquartered cybersecurity firm founded in 2014, specializing in API protection and bot management. Its Unified API Protection platform secures over 10 billion daily API calls for enterprises including financial institutions and e-commerce giants, leveraging AI-driven threat detection.
Founded
2014
HQ
San Jose, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$85M (Feb 2019)
Cequence Security Valuation
Cequence Security is currently valued at $85M, based on its Series B in February 2019.
The $17M round was led by Dell Technologies Capital, with participation from Shasta Ventures.
Cequence Security valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2019 | Series B | $85M |
Cequence Security Funding History
Cequence Security has raised a total of $102M across 5 funding rounds.
Cequence Security's first fundraising round was a $7M seed round in October 2016. The most recent completed round was a $60M Series C in December 2021.
Cequence Security funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2021 | Series C | Menlo Ventures (lead); Icon Ventures; T-Mobile Ventures; Titanium Ventures; Shasta Ventures; Dell Technologies Capital; HarbourVest Partners | $60M | - | Cequence Security is a cybersecurity company focused on protecting APIs and web applications from attacks, business logic abuse, and online fraud using an analytics engine that examines request patterns, clustering, and intent to detect threats like account takeover, credential stuffing, and inventory manipulation. In December 2021, it raised a $60 million Series C led by Menlo Ventures, with participation from new investors Icon Ventures, Telstra Ventures, and HarbourVest Partners, plus existing investors Shasta Ventures, Dell Technologies Capital, and T-Mobile Ventures, bringing total funding to $100 million at that time. The funds were intended to fuel growth amid a shift toward API security, discovering API footprints without instrumentation, detecting abuse, and mitigating threats based on approximately 150 data points. Cequence positions itself against competitors in API security and bot management, protecting over 10 billion daily API interactions and 4 billion user accounts for large organizations. It has pursued partnerships like with Software AG in 2022 and achieved AWS Retail Competency status, while research highlights cyber risks like $2.58M per hour at stake during holidays. |
| Jun 2021 | Series B | T-Mobile Ventures; Cerity Partners Ventures; Shasta Ventures; Dell Technologies Capital | $10M | - | - |
| Feb 2019 | Series B | Dell Technologies Capital (lead); Shasta Ventures | $17M | $85M | Cequence Security, a Sunnyvale, CA-based provider of application security solutions, raised $17 million in a Series B funding round on February 27, 2019, led by Dell Technologies Capital with participation from Shasta Ventures, bringing total funding to $30 million. The company develops an AI-powered platform that protects web, mobile, and application services from automated bot and manual attacks, including account fraud and content scraping, by analyzing behaviors and intents in web traffic. The funding supports market expansion, sales and marketing efforts in the US and international markets, and continued platform innovations to address sophisticated semantic and syntactic attacks on internet-facing applications and APIs. Cequence, founded in 2014, had recently emerged from stealth, securing large deals averaging $500,000 with Fortune 100 customers in sectors like financial services, social media, retail, and gaming, and employed 34 people at the time. The leadership team includes veterans from Palo Alto Networks and Symantec. One source lists a post-money valuation of $84.51 million for this Series B round. Shasta Ventures had led the prior $8 million Series A in 2018. |
| Feb 2018 | Series A | Shasta Ventures (lead) | $8M | - | Cequence Security raised an $8 million Series A round led by Shasta Ventures in February 2018. Shasta Ventures had previously participated in the company's seed funding. The company develops an application security platform using AI to protect web, mobile, and API services from automated bot attacks, account fraud, and content scraping, deployable in the cloud or on-premise. Subsequent rounds included a $17 million Series B in February 2019 led by Dell Technologies Capital with Shasta Ventures participation, bringing total funding to $30 million, and a $60 million Series C in December 2021 led by Menlo Ventures, increasing total investment to $100 million. The funding supported market expansion, platform innovations, sales and marketing, and hiring. Cequence protects assets worth $9 trillion and over 2 billion user accounts for Fortune 500 customers, securing more than 6 billion API calls daily. |
| Oct 2016 | Seed | 408 Ventures; Wisemont Capital; TechSquare Labs; SV Tech Ventures; Kevin Mahaffey; Monta Vista Capital; TriplePoint Capital | $7M | - | - |
Who has invested in Cequence Security?
15 investors have backed Cequence Security across its funding rounds, including Shasta Ventures, Dell Technologies Capital, T-Mobile Ventures, Menlo Ventures, Titanium Ventures and Kevin Mahaffey.
Lead investors include Menlo Ventures, Dell Technologies Capital and Shasta Ventures.
Cequence Security Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| United States | 4 | Lead | Feb 2018 | |
| San Francisco, CA | 3 | Lead | Feb 2019 | |
| Seattle, WA | 2 | Participant | Jun 2021 | |
| San Francisco, CA | 1 | Lead | Dec 2021 | |
| United States | 1 | Participant | Oct 2016 | |
| San Francisco, CA | 1 | Participant | Dec 2021 | |
| United States | 1 | Participant | Dec 2021 | |
| Seattle, WA | 1 | Participant | Oct 2016 | |
| Atlanta, GA | 1 | Participant | Oct 2016 | |
| San Francisco, CA | 1 | Participant | Oct 2016 | |
| Kevin Mahaffey | San Francisco, CA | 1 | Participant | Oct 2016 |
| Haddonfield, NJ | 1 | Participant | Jun 2021 | |
| San Francisco, CA | 1 | Participant | Oct 2016 | |
This data is available for Pro users. Sign up to see all 15 Cequence Security investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialCequence Security Competitors
Cequence Security competitors include listed companies like Rank One Computing and CyCraft Technology, and private ones like Promptfoo, BforeAI, Univers and Cropin.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | - | - | $86M | - | |
| New York City, NY | Private | $2M | - | $100M | - | |
| United States | Publicly listed | $17M | ($2M) | $84M | 3.6x | |
 Marbella | Private | - | - | $87M | - | |
 Taiwan | Publicly listed | $12M | ($892K) | $82M | - | |
 Bangalore | Private | $4M | - | $90M | 22.5x |
Cequence Security Public Comps
Cequence Security is still privately-owned, but its public comps include Rank One Computing, Quick Heal Technologies, Wins Technet, Corero Network Security, CyCraft Technology, Blaize Holdings, Loihde, Advenica, CSP Inc. and Hancom WITH.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $17M | ($2M) | 4.3x | 3.6x | (47.0x) | - | |||
| $27M | ($719K) | 2.3x | - | (88.4x) | - | |||
| $72M | $18M | 0.2x | - | 0.7x | - | |||
| $25M | $2M | 3.2x | 2.7x | 46.4x | 18.3x | |||
| $12M | ($892K) | 5.3x | - | (69.0x) | - | |||
| $39M | ($205M) | 1.3x | 1.3x | (0.2x) | (0.9x) | |||
| $166M | $13M | 0.5x | - | 6.6x | - | |||
| $21M | $3M | 3.4x | 3.3x | 21.9x | 39.3x | |||
This data is available for Pro users. Sign up to see all Cequence Security competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Cequence Security
| When was Cequence Security founded? | Cequence Security was founded in 2014. |
| Where is Cequence Security headquartered? | Cequence Security is headquartered in San Jose, CA, United States. |
| Is Cequence Security publicly listed? | No, Cequence Security is a private, VC-backed company. |
| What is Cequence Security's valuation? | Cequence Security was last valued at $85M in its Series B in February 2019. |
| How much funding has Cequence Security raised? | Cequence Security has raised $102M across 5 funding rounds. |
| What was Cequence Security's last funding round? | Cequence Security's last funding round was a $60M Series C in December 2021, led by Menlo Ventures. |
| Who are Cequence Security's investors? | Cequence Security's investors include Shasta Ventures, Dell Technologies Capital, T-Mobile Ventures, Menlo Ventures, 408 Ventures, Icon Ventures, Titanium Ventures, Wisemont Capital, TechSquare Labs, SV Tech Ventures and 5 others. |
| Which companies are comparable to Cequence Security? | Companies comparable to Cequence Security include Promptfoo, BforeAI, Rank One Computing, Univers, CyCraft Technology and Cropin. |
See companies similar to Cequence Security
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