Approov, an Edinburgh-based mobile app and API security company, has secured a £5m Series A investment to meet the rising threats facing cybersecurity.
The group will use the new funds to expand its research and development team as AI presents new opportunities for cyber threats.
Approov is most known for its app attestation system, used to verify the legitimacy of a backend API that a mobile app is trying to connect to.
“As the threat landscape continues to evolve, developers and enterprises alike are recognising that mobile app security cannot be an afterthought,” said Ted Miracco, chief executive of Approov.
“This funding marks a pivotal moment in our mission to ensure that every mobile app instance is authenticated and that backend APIs are protected from fraud, abuse, and unauthorised access.”
Recent research has suggested there is a growing “security crisis” among APIs. A report from data-sharing platform Radiam last month found an alarming number of firms are operating with API protection shortfalls.
The funding round was led by the Investment Fund for Scotland, managed by Maven Capital Partners and included participation from Souter Investments, Lanza techVentures and Scottish Enterprise.
“Approov is a leading innovator in mobile app and API security with proven applications in multiple target sectors,” said Craig McGill, investment manager at Maven Capital Partners.
“With their strong IP and the growing demand for API-level defences across the industry, the business is uniquely positioned to lead this next era of mobile security.”
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