California based-security company Shape Security has announced that it has raised $51 million in funding in its series F round. The round of funding was led by C5 Capital with the participation of Kleiner Perkins, HPE Growth and Norwest Ventures Partners.
The company has now raised $183 million in total since its founding in 2011. The pre-money valuation of the company is now at $1 billion. Shape Security has had backing from the likes of former Google CEO Eric Schmidt’s Tomorrow Ventures and Alphabet’s GV in the past.
The fresh funding will help the company expand its presence internationally and develop its products. The funding has come at a late stage as Shape Security goes through a massive development and growth phase.
“This investment will help us scale our international operations and fuel our AI development,” said Derek Smith, co-founder and CEO of Shape. “Our new and returning investors, coupled with our continued track record of growth, underscore our vision to protect all enterprises from fraudulent Internet transactions.”
The impressive security company was founded by Derek Smith, Justin Call, and Sumit Agarwal. The company uses its expertise, technology, and AI to protect its clients from automated and imitation attacks.