Shape Security provides omnichannel fraud prevention for web, mobile and API interfaces, protecting large enterprises from automated attacks and other online fraud. Its platform detects and blocks up to 2 billion fraudulent or unwanted transactions daily while preserving 200 million legitimate human logins and interactions. The company’s mobile SDK is deployed on more than 200 million iOS and Android devices worldwide, and it protects more than half of online banking in North America. Led by co-founder and CEO Derek Smith, Shape plans to use new capital to scale international operations and accelerate AI development. Financially, the company has raised $51M in this growth funding round at a $1B pre-money valuation and has $183M in total funding to date. Shape Security offers an AI platform that detects and shuts down automated attacks in real time, distinguishing real users from fraudsters even when criminals use manual methods. Its solution eliminates bots, fraud and unwanted automation for more than 20% of consumer brands in the Fortune 500. The platform protects over 100 million legitimate human logins each day. Shape is led by Co-Founder and CEO Derek Smith, with Sumit Agarwal (co-founder & COO), Shuman Ghosemajumder (CTO) and Xinran Wang (Chief Security Scientist) on the leadership team. The company has offices in Mountain View, London and Sydney. It intends to use the new funding to accelerate international expansion. Shape Security, based in Mountain View, CA and led by CEO Derek Smith, develops a platform for protecting web and mobile applications from automated cybercriminal attacks. The platform is covered by 23 U.S. patents and targets threats such as credential stuffing (account takeover), application DDoS, and unauthorized aggregation. Its customers include large financial institutions, retail and travel companies, and government agencies. The company has raised $106 million in total funding to date. Following the Series D, Shape intends to use the funds to expand sales across the U.S. and internationally, primarily in the APAC region. Shape's participation in the Hewlett Packard Pathfinder program includes a strategic sales partnership with HPE to offer the Shape solution to HPE customers worldwide. Shape Security provides technology that protects web and mobile applications from automated attacks and bot-enabled account takeover. Led by CEO Derek Smith and based in Mountain View, California, the company offers the Shape Botwall Service to detect and stop malicious bot traffic. Its technology targets attacks enabled by botnets and other forms of automation, which the article notes now account for more than half of traffic to login pages of major websites. Shape's solution is positioned to bypass protections that many enterprises use today, including WAFs, DDoS and fraud controls, and IDS/IPS. The company will use proceeds to accelerate deployments of the Shape Botwall Service with customers across the globe and to expand into China with support from Beijing-based Northern Light Venture Capital. Following the Series D the company has raised $91M in total. Shape Security offers an enterprise "botwall" product that fights automated malware and bots by altering the code served to clients in real time (an approach it calls "real-time polymorphism"). Today the solution is delivered as on-premises hardware that a client installs, though the company says it may virtualize the product in the cloud in the future. The funding will be used to continue developing the technology and to build out a global salesforce as the company moves from stealth into open marketing. Shape reports early-adopter customers in financial services, healthcare, and retail and says it has been inundated with inquiries worldwide since launch. The team includes co-founders Sumit Agarwal, Derek Smith (CEO) and Justin Call (CTO), and senior staff such as Shuman Ghosemajumder, formerly Google’s "Click Fraud Czar." Financially, the company has raised a total of $66 million to date following the latest round.

Total raised

$208M

Funding rounds

7

Latest round

Equity

Latest activity

Sep 2019