Kasada, a company that protects websites from data-scraping bots, has raised US$20 million. This new funding now values the company at US$300 million.
The round was led by EQT, a major Swedish private equity firm. Existing investors like Turnbull & Partners, Reinventure (Westpac’s VC fund), Main Sequence, OIF Ventures, StepStone Group (New York), and Ten Eleven Ventures (California) also joined in.
Kasada is a cybersecurity startup founded in Sydney in 2015 by Sam Crowther, who launched the company when he was still a teenager.
The company raised $2.5 million in 2018, followed by a $7 million Series A in late 2019. During that Series A, the CIA’s venture arm In-Q-Tel (IQT) became an investor.
Kasada then raised US$10 million (A$15m) in a Series B round in mid-2020, and later secured US$23 million (A$34m) in a Series C round in late 2021.
Kasada now has about 100 employees working in Sydney, Melbourne, and different locations across the United States. Founder Sam Crowther is also looking to hire a new executive assistant.
Kasada offers two main products — one that protects against bots, and another that focuses on fraud prevention.
These tools help stop issues like account takeovers, fake account creation, API attacks, content scraping, CAPTCHA bypassing, and misuse of generative AI.
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