👩🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.
🧔♂️ A friendly human may check it before it goes live. More news here
🧔♂️ A friendly human may check it before it goes live. More news here
EQT-backed US cybersecurity startup Kasada raises $20m
Kasada, a cybersecurity firm based in New York, has secured US$20 million in a funding round led by EQT, with participation from existing investors including Ten Eleven Ventures and Main Sequence Ventures.
The funding will support Kasada’s expansion into new markets and the development of additional fraud prevention products.
Founded in 2015, Kasada focuses on protecting enterprises against online fraud, and AI-driven threats, safeguarding over US$150 billion in ecommerce revenue.
Kasada aims to enhance its platform to detect automated attacks early.
🔗 Source: Kasada
🧠 Food for thought
Implications, context, and why it matters.
The $20 million round follows rapid growth and share gains
- The $20 million round brings Kasada’s total funding to $59 million after a $23 million Series C in 2021 1.
- Kasada posted $25.1 million in 2023 revenue and employed 116 people 2.
- The ecommerce revenue Kasada safeguards rose from more than $20 billion a year in 2021 to over $150 billion today 13.
- More than 85% of customers previously used other bot mitigation providers (tools that detect and stop automated abusive traffic) before switching to Kasada 4.
Kasada’s raise aligns with security work on AI agents
- References to “AI-driven threats” tie to shifts in web traffic plus rising demand for fraud and abuse defenses.
- Tools that block all automation can also reject legitimate AI assistants that browse or shop for consumers, cutting ecommerce revenue 5.
- Kasada paired the funding with “AI Agent Trust,” which aims to manage automated traffic through granular controls (fine-tuned rules that distinguish helpful automation from abuse) 6.
- The approach moves away from blanket blocking toward permitting approved activity. Enterprise security plus ecommerce teams now oversee humans, malicious bots, beneficial AI agents, while keeping AI-powered commerce available 7.
