Aqua Security closes $60M additional funding at a valuation above $1B

Thursday, 11 January 2024 22:42

By Aqua Security

Dror Davidoff, co-founder and CEO of Aqua Security

COMPANY NEWS: Aqua Security, the pioneer in cloud native security, today announced it has secured $60M in funding, led by new investor Evolution Equity Partners, with participation from existing investors Insight Partners, Lightspeed Venture Partners and StepStone Group.

The funding, an extension of the company’s Series E round, places Aqua’s valuation above $1B.

Aqua has now raised $325 million since its founding in 2015. During that time, more than 500 enterprise companies worldwide, including 40% of the Fortune 100 companies, have adopted Aqua’s innovative cloud security approach.

Aqua serves six of the top 10 banks in North America, and six of the top seven banks in Canada, making it the leading cloud native security provider for the financial services industry.

“Investors continue to appreciate Aqua’s enormous potential, and the surging demand for our solution,” said Dror Davidoff, co-founder and CEO of Aqua Security.

“Eight years ago, we envisioned a world where all new applications would be built native to the cloud. Today we are here in a market we pioneered with a purpose-built solution to protect customers’ digital transformations. We are excited for what’s ahead in 2024.”

The funding comes on the heels of a stellar 2023 for Aqua. In addition to seeing a 65% increase in new business, Aqua was named to the Fortune Cyber 60 list of the most important venture-backed startups.

Aqua was also named a leader on GigaOm’s Radar for Container Security, an Overall Leader in the 2023 KuppingerCole Software Supply Chain Security (SSCS) Leadership Compass and a Representative Vendor in the Gartner® Market Guide for Cloud-Native.

Aqua also earned top honours including CISO Choice Awards winner in the Cloud Workload Protection Platform (CWPP) category and the ‘Enterprise Cloud Security Solution Provider of the Year’ in the CyberSecurity Breakthrough Awards.

“Aqua Security has built an innovative cloud security solution that solves the growing challenge of stopping cloud native attacks. Given the increasing adoption of cloud native applications across enterprises, Aqua’s growth trajectory is a rocket ship,” said Yuval Ben-Itzhak, General Partner at Evolution Equity Partners.

“Led by a strong management team, and with a focus on customer success and innovation, Aqua stands out among a crowded vendor landscape.”

About Evolution Equity Partners

Evolution Equity Partners, headquartered in New York City, partners with rapidly growing cybersecurity software companies that safeguard our digital world.

The firm was founded by investor and technology entrepreneurs Richard Seewald and Dennis Smith, who manage and lead the firm, and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world. Evolution has invested in over fifty cybersecurity companies building a growing portfolio of market leaders.

About Aqua Security

Aqua Security sees and stops attacks across the entire cloud native application lifecycle in a single, integrated platform. From software supply chain security for developers to cloud security and runtime protection for security teams, Aqua helps customers reduce risk while building the future of their businesses.

The Aqua Platform is the industry’s most comprehensive Cloud Native Application Protection Platform (CNAPP). Founded in 2015, Aqua is headquartered in Boston, MA and Ramat Gan, IL with Fortune 1000 customers in over 40 countries. For more information, visit https://www.aquasec.com.

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Aqua Security closes $60M additional funding at a valuation above $1B