Main Sequence Ventures has returned for a $10m series B round that will drive Kasada's expansion efforts following its opening of headquarters in the US.
Kasada, a US-based cybersecurity technology developer, has received $10m in a series B round backed by Main Sequence Ventures, the venture capital affiliate of research institute Csiro.
Venture capital firm Ten Eleven Ventures led the round, which also included Reinventure, a venture capital firm aligned with financial services firm Westpac.
Founded in 2015, Kasada has developed cybersecurity technology for enterprise clients that monitors malicious web traffic to prevent automated attacks such as denial of service, account takeovers and content scraping.
The series B funding will enable Kasada to drive further expansion efforts, build out its sales and marketing activities and continue to invest in new product development. Alex Doll, managing partner at Ten Eleven, has joined Kasada’s board of directors.
The money follows the opening of a headquarter in the US last year, having previously operated from Australia, and the promotion of Pascal Podvin from chief revenue officer to CEO in March 2020, replacing founder Sam Crowther.
Kasada previously completed a $7m series A round backed by In-Q-Tel, the strategic investment affiliate of the US intelligence community, in November 2019. Main Sequence Ventures and Reinventure co-led a $4.6m round in May 2019.