Login
Kasada completes Series B capital raise
Herbert Smith Freehills has advised Kasada on its series B raise with Malcolm Turnbull to join the board of directors.
Tony Zhang
Firms: Herbert Smith Freehills (Kasada).
The round was led by US-based cyber security specialist venture capital firm Ten Eleven Ventures and joined by Turnbull & Partners. Series A investors CSIRO-backed Main Sequence Ventures and Westpac-backed Reinventure also invested in the round.
Value: $15 million.
Area: Capital raising.
Key players: The Herbert Smith Freehills team was led by head of venture capital Peter Dunne and solicitor Myra Beal.
Deal significance: Former prime minister of Australia, Malcolm Turnbull, and Ten Eleven Ventures founder and managing member, Alex Doll, will join the Kasada board as new directors.
This capital raise continues Herbert Smith Freehills’ long partnership with Kasada, with the firm having previously acted on Kasada’s $2.5 million Series Seed and $7 million Series A capital raises.
“Kasada is at an exciting phase of its growth and expansion. This funding round will [help accelerate] global sales, especially in the US, support the continued development of its unique platform, and further build on the company’s operational capabilities, ready for scale,” Ms Beal said.
“It has been a pleasure to work with the Kasada team and to achieve a fantastic result in the midst of the COVID-19 pandemic. We look forward to the exciting next steps to come for this innovative company.”
Kasada, an Australian cyber security technology company, was founded in 2015 by Sam Crowther.
The company foils malicious threats from login to data scraping across web, mobile, and API channels. Its category-defining web traffic integrity solution gives internet control and safety back to humans. Kasada onboards in minutes, scales up to largest enterprises, and delivers ROI across business units.
“Peter, Myra and the HSF team complement Kasada. They are talented, proactive and pragmatic, and overcome all the challenges of transacting in a [COVID-19-restricted] world,” Kasada’s Mr Crowther said.
