Silicon Valley-based security software provider Shape Security has completed a US$25 million series D round of financing led by Baseline Ventures, Northern Light Venture Capital and Epic Ventures, according to a company announcement.
Existing investors Kleiner Perkins Caufield & Byers, Venrock, Norwest Venture Partners, Google Ventures, Eric Schmidt’s Tomorrow Ventures and others undisclosed investors also participated.
The company, which has raised US$91 million in total after the latest round, says it will use the proceeds to expand into China, a key market for the company’s future growth.
“There is a highly increasing demand in China’s e-commerce market for bot detection and corresponding services," says Feng Deng, founder of Northern Light Venture Capital.
Founded in 2011, Shape Security’s software stops automated web and mobile application attacks, including credential stuffing, content scraping, and applicationlayer DDoS, that bypass existing defenses.