On Wednesday, Seattle-based Cloudentity announced that it raised $13 million in a Series A funding round led by ForgePoint Capital. So far, Cloudentity has raised $15 million in funding total.
As more businesses shift their data and software to be hosted on cloud servers, it’s important to make sure this information is protected from potential cyber attacks. Cloudentity is committed to protecting this information through its API Access Control solutions.
APIs — or application programing interfaces — are digital tools that field our requests in order to deliver the information we’re looking for, facilitating interactions between multiple software programs. According to Cloudentity, APIs account for over 80 percent of all web traffic, and thus are expected to be a big target for cyber attacks and data breaches.
Cloudentity hopes to stop these attacks with its software that authorizes a user’s identity at the API level, and provides a continuous trail of authorization so businesses can make sure bad actors don’t take control.
“As enterprises move to the cloud, they are adopting distributed microservices and API-first applications, which present performance and security risks to identity and authorization platforms that are required to safely deploy applications,” CEO and co-founder Nathanael Coffing said in a statement. “Cloudentity sits at the convergence between Identity and Application Infrastructure, providing Continuous Contextual Authorization for zero trust API security.”
Cloudentity says that it experienced a record year of customer adoption and expansion. It plans to use its new Series A funding to continue building on this momentum by investing in its growth and go-to-market strategies. The company has a few open roles across its sales, engineering and marketing teams.
With this funding, Sean Cunningham of ForgePoint Capital will join Cloudentity’s board of directors.
