Feroot Security raises $11 million to protect against website application vulnerabilities

Feroot Security

Feroot Security raises $11 million to protect against website application vulnerabilities. Seed funding round led by venture capital firm True Ventures.

TORONTO, ON, CANADA, February 28, 2022 /EINPresswire.com/ — Feroot Security, a leading provider of client-side cybersecurity solutions, today announced the closing of an $11 million seed funding round led by True Ventures. The funds will be used to meet growing customer demand for client-side security solutions by accelerating product development and go-to-market initiatives.

Over the past year, there has been a remarkable increase in security incidents focused on breaching client-side web pages and web applications. These web pages and web applications tend to be hacked through marketing forms, known vulnerabilities in JavaScript, compromised third-party scripts, marketing trackers, etc. Examples include attacks on over 100 luxury real estate sites; an attack on a gaming PC and console controller company; an attack against more than 200,000 customers of an online shopping service; and an attack on a widely adopted open-source JavaScript plugin.

“A shocking 98% of websites use forms to collect personal and financial data from customers,” said Ivan Tsarynny, co-founder and CEO of Feroot. “Threat actors are starting to get a higher return on investment attacking unprotected client-side applications compared to traditional server-side attacks. In order to meet the growing demand for our client-side security products, we needed to find a great partner with deep experience in helping early-stage cybersecurity startups grow.

Tsarynny and Vitaliy Lim, co-founder and CTO, received investment offers from several high profile venture capital organizations and chose True Ventures as their growth partner.

“As interfaces are built in an increasingly distributed manner, security challenges have become more difficult to address,” said Puneet Agarwal, partner at True Ventures. “Ivan and Vitaliy represent a new breed of security contractors protecting these exposed surfaces. We are delighted to partner with them and support their efforts in protecting user data. »

About Feroot Security
Feroot Security believes that customers should be able to do business online securely with any company, without risk or compromise. Feroot secures client-side web applications so businesses can deliver seamless digital user experiences to their customers. Leading brands trust Feroot to protect their client-side attack surface. To learn more, visit www.feroot.com.

About True Ventures
Founded in 2005, True Ventures is a Silicon Valley-based venture capital firm that invests in early-stage technology startups. With over $2.8 billion under management, True provides seed and Series A funding to entrepreneurs in today’s fastest growing markets. The True team believes that creativity flourishes when founders are fully supported and empowered to pursue courageous ideas. To that end, the True Platform offers programs that inspire professional and personal growth. To date, True has helped over 300 companies launch and grow their businesses, creating over 25,000 jobs worldwide. To learn more, visit www.trueventures.com.

Christopher Kolling
Feroot Security Inc.
marketing@feroot.com
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Sherry J. Basler