Source Defense, a client-side protection provider for web applications, said it pocketed $27 million in Series B funding, bringing the company’s total investment raised to $47 million.
The new funding round was led by Springtide Ventures, with participation from all previous investors including AllegisCyber Capital, Capital One Ventures, Connecticut Innovations, Inc., Global Brain, Jerusalem Venture Partners and NightDragon.
Source Defense develops technology to help mitigate third-party supply chain risks by securing client-side JavaScript code used by websites. In addition to vulnerability protection and prevention, the company’s product line also offers threat detection capabilities.
The company says its platform provides organizations with both security and compliance, so businesses can protect users’ personal and financial information.
Source Defense says it will use the funding to accelerate growth by investing in research and development, sales and marketing.
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Ionut Argire is an international correspondent for SecurityWeek.
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