PORTO, Portugal--(BUSINESS WIRE)--Jscrambler, a technology company specializing in cybersecurity products for web and mobile applications, announced today it has raised $15 million in Series A financing to rewrite the rules of website security. The round was led by Ace Capital Partners, with the participation of existing investors including Portugal Ventures. With previous investor Sonae IM and now Ace Capital Partners, Jscrambler is supported by two of the largest cybersecurity-focused growth investors in Europe.
The funding will be used to augment marketing and sales resources in the U.S. and European markets, as well as strengthen and accelerate the product roadmap to meet current customers' expanding requirements.
In tandem, Jscrambler also announced Pedro Abreu has joined as an independent board member to contribute to the company’s vision, roadmap and product-market fit. Pedro is currently COO at Exabeam and brings 20+ years of cybersecurity business operations and strategy experience from companies such as McAfee and ForeScout.
Over the last few years, supply chain attacks have been growing steadily, reaching all-time highs in 2021 with the SolarWinds attack and thus prompting a global call for improved supply chain cybersecurity. Attackers have been rapidly pivoting to the web, exploiting companies’ reliance on third-party code to launch massive attacks that leak sensitive user data in millions of websites. Current browser native defenses and traditional security approaches fail to address these weaknesses in the web supply chain, allowing attackers to target the client-side (i.e., everything that takes place on the browser or end-user device). Web App Client-Side Protection is one of the key categories in Application Security and Jscrambler is recognized by Gartner as a leader in this space.
The company now seeks to reach yet another groundbreaking stage in its product offering development, after having established itself as the standard in client-side web security with cutting-edge technology that protects the source code of web and mobile applications from thousands of enterprises across the globe. Continuing a strong R&D investment that spans over a decade, this funding will also drive an integrated solution that ensures website owners can protect the client-side to secure user data, mitigate fraud and user hijacking, and improve compliance with regulations (GDPR, CCPA, PSD2, HIPAA, PCI DSS, among others) through a transparent, frictionless deployment.
"We are at a critical turning point in web security. This year’s streak of high-profile software supply chain attacks has put everyone on guard against the massive damages inflicted when attackers breach critical applications of private and public organizations,” said Rui Ribeiro, Jscrambler co-founder and CEO. “We anticipated this trend years ago and are successfully delivering differentiated technology and expertise to solve client-side attacks, enabling us to win over demanding customers, from Fortune 500 companies and SMEs alike. This investment and the addition of Pedro Abreu as a board member is precisely what we needed to drive expansion while still shaping the forefront of application security.”
With a solid foothold in the U.S. and European markets, Jscrambler seeks to accelerate its growth in these key geographies where demand is ramping up fast.
“There is a clear, growing need for disruptive web technology and we are extremely impressed with Jscrambler’s solution and its successful adoption with top-tier enterprise customers across multiple verticals,” said Augustin Blanchard, executive director at Ace Capital Partners. “We strongly believe that this new investment by Ace Capital Partners will fuel this growth, enabling the world’s biggest enterprises to find in Jscrambler, a promising and already established European leader in its market, the answer to all their challenges in terms of client-side security and application shielding.”
“This new funding round speaks volumes about the disruptive technology that Jscrambler has consolidated in the market,” said Carlos Moreira da Silva, partner at Sonae IM. “The challenging times people and businesses are facing have reinforced the need to explore improved digital experiences, namely within the e-commerce and banking markets. Positioned at the intersection of application security and online fraud detection, Jscrambler is and will continue to benefit greatly from market tailwinds, by helping organizations secure their online assets and their users’ data.”
About Ace Capital Partners
Ace Capital Partners, a subsidiary of Tikehau Capital, is a private equity firm specialised in strategic industries and technologies, with more than €1 billion in assets under management. Founded in 2000, Ace invests with a vertical approach in strategic industries (e.g., Aerospace, Defense and technologies (e.g., Cybersecurity). Ace has built its model on strategic partnerships with large corporates (including Airbus, Safran, Dassault Aviation, Thales, EDF, Naval Group, and Sopra Steria), which invest in its funds and maintain an ongoing dialogue with the firm, enabling Ace to take a differentiated approach to investing.
Ace is present in Paris, Toulouse and Montreal and benefits from the worldwide presence of Tikehau Capital.
About Sonae Investment Management
Sonae IM is the technology investment arm of the multinational Sonae Group. With 40 direct investments and growing, it encompasses stakes in companies on a global scale, from early to growth stages, and in strategic business areas such as cybersecurity, digital infrastructure and retail technology. For more information, visit sonaeim.com
About Portugal Ventures
Portugal Ventures, a venture capital firm that is part of Portuguese promotional bank Grupo Banco Português de Fomento, has more than 140 portfolio companies and €184 million under management. It invests in startups in the pre-seed, seed and series A stages offering innovative solutions and with the potential to internationalise their business in the Digital, Engineering & Industry, Life Sciences and Tourism sectors. Since 2012, Portugal Ventures has already invested €171 million in 180 new companies. To learn more, visit www.portugalventures.pt