Pangea Cyber, a Palo Alto, CA-based security services SaaS platform, announced that it closed $26 million Series B funding to accelerate the delivery of its API-based security services.
The round was led by GV, with participation from Decibel and Okta Ventures, and joined by existing investors Ballistic Ventures and SYN Ventures. This brings the total funding raised for the one-year-old company to $52 million.
Pangea plans to use the funding for product development and to drive developer and builder adoption.
"Development teams simply lack the expertise to add security capabilities into their applications. With up to one million software companies anticipated by 2027 (according to Forrester), it's essential that the applications they build have access to a trustworthy framework of security functions," said Oliver Friedrichs, founder, and CEO of Pangea. "This new funding will help us to realize and accelerate that vision."
Pangea's Security Platform-as-a-Service framework is available for builders who need to add security functions to their applications.
Company: Pangea Dev, Inc.
Raised: $26.0M
Round: Series B
Funding Month: November 2022
Lead Investors: GV
Additional Investors: Decibel, Okta Ventures, Ballistic Ventures, and SYN Ventures
Company Website: https://pangea.cloud/
Software Category: Security Platform-as-a-Service
About the Company: Led by co-founders Oliver Friedrichs and Sourabh Satish, Pangea is a provider of security services for cloud and mobile app developers, SaaS platform providers, and security operations centers. The Security Platform-as-a-Service framework is available for builders who need to add security functions to their applications. Builders use Pangea to log security events, manage export restrictions, handle personally identifiable information (PII), identify malicious files being shared, and block users from risky internet domains. Services are offered just like Amazon Web Services, but with a focus on cybersecurity. Pangea is headquartered in Palo Alto, California.
Source: https://pangea.cloud/news-events/press-release-series-b/