Aqua Security's value tops $1 billion after funding boost

Aqua Security, a leading innovator in global cloud native security, has revealed that the company has garnered some $60 million in additional funding in an extension of its Series E round. The investment has driven the company's market valuation to over $1 billion. Guiding this funding round was new investor, Evolution Equity Partners, who was joined by previous investors Insight Partners, Lightspeed Venture Partners, and StepStone Group. Since its inception in 2015, Aqua Security has painstakingly secured $325 million in fundraising.

Over the years, Aqua Security's unique approach to cloud security has been adopted by more than 500 enterprise companies globally, which includes 40% of the Fortune 100 organisations. The company serves as the leading cloud-native security provider for the financial services industry, with six of the top 10 banks in North America and six of the seven leading banks in Canada benefiting from its services.

Co-founder and Chief Executive Officer of Aqua Security, Dror Davidoff, reflected on the journey, "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," he said.

Last year proved successful for Aqua Security as the company emerged as a leader on numerous fronts. Notably, the firm experienced a 65% rise in new business, earned a spot on the Fortune Cyber 60 list of the most important venture-backed startups, and was heralded as an Overall Leader in the 2023 KuppingerCole Software Supply Chain Security Leadership Compass. Aqua was also distinguished as a leader on GigaOm's Radar for Container Security and listed as a Representative Vendor in the Gartner Market Guide for Cloud-Native.

Furthermore, Aqua Security earned high praise and several accolades, including being named the 'Enterprise Cloud Security Solution Provider of the Year' in the CyberSecurity Breakthrough Awards and winning the Cloud Workload Protection Platform category at the CISO Choice Awards.

Deeming Aqua's growth trajectory akin to a 'rocket ship', Yuval Ben-Itzhak, General Partner at Evolution Equity Partners, cited Aqua Security's innovative cloud security solution as a crucial tool in thwarting increasingly prevalent cloud-native attacks. Ben-Itzhak went on to say, "Led by a strong management team, and with a focus on customer success and innovation, Aqua stands out among a crowded vendor landscape."

With the rising adoption of cloud native applications across enterprises, this funding will support Aqua's mission to see and thwart attacks across the cloud native application lifecycle. Since its inception, Aqua Security has sought to aid customers in reducing risk as they build the future of their businesses by providing an industry-leading, comprehensive cloud native application protection platform.