FireTail Inc, a disruptor in API security, announced today it has closed $5 million in early stage financing led by Paladin Capital Group, with participation from Zscaler, General Advance, Secure Octane, and a cadre of high-profile cyber security executives including SentinelOne VP of Cloud Security Ely Kahn, Intel 471 CEO Mark Arena, and Shift5 CEO Josh Lospinoso.
McLean, Va. – Dec. 14, 2022 — FireTail Inc, a disruptor in API security, announced today it has closed $5 million in early stage financing led by Paladin Capital Group, with participation from Zscaler, General Advance, Secure Octane, and a cadre of high-profile cyber security executives including SentinelOne VP of Cloud Security Ely Kahn, Intel 471 CEO Mark Arena, and Shift5 CEO Josh Lospinoso.
Application Programming Interfaces (API) are the core enabling technology for modern digital applications and the Internet of Things (IoT), allowing multiple systems to communicate with each other. With studies showing that more than 80% of all internet traffic is derived from APIs, the volume of sensitive data being accessed and transmitted through these essential interfaces is increasing dramatically. FireTail enables organizations to maintain continuous visibility over their APIs, monitor for threats and prevent breaches with a unique, end-to-end focus on the application layer of cloud-native applications.
The company is engaged with a number of early adopters across North America, Asia-Pacific and Europe, with hundreds of APIs secured and millions of events observed. FireTail is helping early-access customers to build a quick and complete API inventory, and then find and eliminate API security issues.
“FireTail is taking a unique approach that makes it easy to embed robust security protection natively within the API itself, rather than trying to adapt legacy network security methods to APIs. We’re thrilled to be partnering with FireTail to bring its technology to developers and enterprises alike,” said Mourad Yesayan, Managing Director at Paladin and FireTail Board Member.
The company was co-founded by Jeremy Snyder and Riley Priddle. Snyder, CEO, brings decades of experience as a former cyber and IT practitioner, as well as C-Suite experience in customer-facing roles at companies including AWS, Rapid7, DivvyCloud and TRADOS. Priddle, CTO, is a technical leader with past experience including SkyTV and HP. They launched FireTail with a vision to prevent API-based data breaches.
“Fundamentally, the root causes of API data breaches are application logic problems,” said Snyder. “Our library makes it easy to execute inline, preventative checks against the main attack vectors. This funding will help us expand coverage to multiple code languages, cloud platforms, and geographically. We also have new initiatives we’re developing together with our customers to provide true end-to-end API security. We’ll wrap up implementation cycles with this cohort early next year, and look forward to doubling the size of the cohort in early 2023.”
FireTail is taking a collaborative approach to product development, partnering directly with cloud-native and API-centric customers to solve the most pressing challenges around API security. Companies interested in learning more can apply to join the early access program at https://firetail.io/2023.
FireTail allows customers to solve all the most critical problems facing APIs today by sitting at the application layer, with full visibility and run-time blocking controls. Existing API security solutions are largely legacy, single-silo (ex. network) solutions, re-purposed to focus on APIs. While they can help, they typically focus on just a part of the problem. FireTail’s breakthrough approach came as a result of analyzing breaches against APIs for root causes, and engineering a solution from scratch specifically to address those pain points. FireTail is headquartered in Northern Virginia, with additional offices in Dublin, Ireland. To learn more, please visit us at https://firetail.io or follow us on LinkedIn.
About Paladin Capital Group
Paladin Capital Group was founded in 2001 and has offices in Washington DC, New York, London, Luxembourg, and Silicon Valley. As a multi-stage investor, Paladin’s core strength is identifying, supporting and investing in innovative companies that develop promising, early-stage technologies to address the critical cyber and advanced technological needs of both commercial and government customers.
Combining proven investment experience with deep expertise in global security, cyber technology and cutting-edge research, Paladin has invested in more than 60 companies since 2008 and has been a trusted partner to investors, entrepreneurs and governments for over two decades.
For more on Paladin Capital Group, follow us on Twitter at @Paladincap and on LinkedIn or visit us at www.PaladinCapGroup.com.
Timo Rüppell joins the FireTail executive leadership team as Vice President of Product, and FireTail has also opened a new company office in Helsinki, Finland.
FireTail is on a mission to secure the world’s APIs. As of December 2022, we have launched the first version of our platform into production, securing our first paying customers and channel relationships.