Noname Security closing on $500 million acquisition by Akamai
Noname Security closing on $500 million acquisition by Akamai
The Israeli cyber startup was valued at $1 billion in its last fundraising round, raising $135 million in a Series C in December 2021
Israeli cybersecurity startup Noname Security is in negotiations to be acquired for around $500 million by American software company Akamai, according to TechCrunch. Previous negotiations between the companies, reported in Calcalist last February, failed due to differences in valuation. However, it now appears that the two companies have reached a mutual understanding, and the negotiations are nearing completion.
Noname Security has raised approximately $220 million to date, with the startup being valued at $1 billion when it raised a $135 million Series C in its last fundraising round in December 2021, meaning the current deal represents a significant disappointment for most of the company's investors, especially those who entered at later stages like Georgian and Lightspeed. Other investors include Insight Partners, Cyberstarts, Next47, Forgepoint, and The Syndicate Group (TSG).
Noname Security, which became the first API security company to achieve unicorn status, has developed a platform that analyzes configuration, traffic, and code to identify the broadest set of API vulnerabilities — including misconfigurations and design flaws.
Noname Security was founded in 2020 by CEO Oz Golan and CTO Shay Levi. The company has headquarters in Palo Alto, California, and an R&D center in Tel Aviv. Golan was formerly the Director of Engineering at NSO and served with Levi in Unit 8200 of the Israeli Defense Forces.
