Jscrambler announced it has raised $15 million in Series A financing for website and mobile app security 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 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.”