Jscrambler Raises $15 Million in Series A Funding To Rewrite The Rules Of Website Security
September 23rd, 2021 | By Jscrambler | 4 min read
We are thrilled to announce that Jscrambler has just raised $15 million in Series A financing, in a round led by Ace Capital Partners and with participation from existing investors Sonae IM and Portugal Ventures.
This funding will play a crucial role in expanding our marketing and sales resources in the U.S. and European markets—where we already have a strong presence—as well as reinforce and accelerate the product roadmap to meet our customers' expanding requirements.
We are also announcing that Pedro Abreu has joined Jscrambler as an independent board member. Currently COO at Exabeam and with 20+ years of experience in the cybersecurity industry from companies such as McAfee and ForeScout, Pedro Abreu will bring a key contribution to our vision, roadmap and product-market fit.
Over the last few years, we have witnessed steady growth in software supply chain attacks. But it was in December 2020 that it became a global concern after the news of a software supply chain attack targeting SolarWinds that allowed attackers to deploy multiple payloads like spyware, and leak confidential data from companies that used the platform, including some U.S. federal entities. This quickly prompted a global call for improved supply chain cybersecurity, namely from the U.S. and U.K. governments.
Attackers have been rapidly pivoting these attacks to the web. Through web supply chain attacks, they exploit companies’ reliance on third-party code to launch massive attacks that leak sensitive user data and tamper with the user experience. And because these attacks are highly scalable, they can infect millions of websites in parallel. Current browser native defenses and traditional security approaches fail to address these weaknesses in the web supply chain, allowing attackers to remain undetected for months. Web App Client-Side Protection is one of the key categories in Application Security and Jscrambler is recognized by Gartner as a leader in this space.
Jscrambler is addressing this client-side security blind spot by monitoring and protecting every website component, starting with the source code itself and monitoring and controlling the behavior of all code running on the website.
After having established itself as the standard in client-side web security with cutting-edge technology that protects the source code of web and mobile applications from thousands of enterprises across the globe, Jscrambler now seeks to reach yet another groundbreaking stage in its product offering development.
Continuing a strong R&D investment that spans over a decade, this funding will also drive an integrated solution that ensures website owners can protect the client-side to secure user data, mitigate fraud and user hijacking, and improve compliance with regulations (GDPR, CCPA, PSD2, HIPAA, PCI DSS, among others) through a transparent, frictionless deployment.
"We are at a critical turning point in web security. This year’s streak of high-profile software supply chain attacks has put everyone on guard against the massive damages inflicted when attackers breach critical applications of private and public organizations,” said Rui Ribeiro, Jscrambler co-founder and CEO. “We anticipated this trend years ago and are successfully delivering differentiated technology and expertise to solve client-side attacks, enabling us to win over demanding customers, from Fortune 500 companies and SMEs alike. This investment and the addition of Pedro Abreu as a board member is precisely what we needed to drive expansion while still shaping the forefront of application security.”
With a solid foothold in the U.S. and European markets, Jscrambler seeks to accelerate its growth in these key geographies where demand is ramping up fast.
“There is a clear, growing need for disruptive web technology and we are extremely impressed with Jscrambler’s solution and its successful adoption with top-tier enterprise customers across multiple verticals,” said Augustin Blanchard, executive director at Ace Capital Partners. “We strongly believe that this new investment by Ace Capital Partners will fuel this growth, enabling the world’s biggest enterprises to find in Jscrambler, a promising and already established European leader in its market, the answer to all their challenges in terms of client-side security and application shielding.”
“This new funding round speaks volumes about the disruptive technology that Jscrambler has consolidated in the market,” said Carlos Moreira da Silva, partner at Sonae IM. “The challenging times people and businesses are facing have reinforced the need to explore improved digital experiences, namely within the e-commerce and banking markets. Positioned at the intersection of application security and online fraud detection, Jscrambler is and will continue to benefit greatly from market tailwinds, by helping organizations secure their online assets and their users’ data.”
The full press release can be found here.
This is truly one of the most important days in Jscrambler’s history. Our enormous thank you to our team of talented and dedicated employees, to all our investors, advisors, partners, and clients who keep pushing us forward.
We will keep breaking barriers in Application Security, shaping the future of the whole industry and keeping billions of website users secure.
To learn more about how we can help address your company’s use case, or in case you want to explore possible partnership opportunities with Jscrambler, contact us.
And if you’re interested in joining our mission, check out our job openings.