Texas startup Ghost Security has joined the list of early-stage companies in the API and application security space attracting venture capital funding.
The Austin-based company emerged from stealth this week with $15 million in investments from 468 Capital, DNX Ventures, and Munich Re Ventures.
"We believe the explosive growth of microservices and APIs in the cloud will continue to outpace the capabilities of existing security solutions. We see this creating an even larger gap between the defensive capabilities of enterprise businesses and the capabilities of skilled hackers," said Greg Martin, co-founder and CEO of Ghost Security.
"As an industry, we are still seeing a lot of legacy thinking around how to deal with the application, data, and microservice sprawl that large scale cloud adoption has created," Martin added, noting that approaches and application security products have become dated and less effective.
He said Ghost Security is inventing and building an entirely new approach to stopping attacks against applications, APIs and microservices.
Ghost Security's public introduction comes amidst a funding frenzy for companies in the API security and services space.
The long list of startups building technology in this category include NoName Security ($220 million raised), Salt Security ($271 million), Cequence ($101 million raised) and Traceable AI ($80 million raised) and Pangea ($25 million raised).